The manufacturing exercise in Türkiye rebounded in February after shrinking for eight straight months, with tentative indicators of enhancing buyer demand, a carefully watched survey confirmed Friday.
The Purchasing Managers’ Index (PMI) for manufacturing rose to 50.2 final month from 49.2 in January, inching above the 50-point line that marks progress in exercise, the Istanbul Chamber of Industry (ISO) and S&P Global stated.
Firms contributing to the survey pointed to indicators of buyer demand enhancing regardless of a marginal slowdown in new orders, the panel confirmed.
In flip, corporations expanded their buying exercise whereas shares of elements continued to reasonable as a result of provide delays attributable to disruptions to commerce via the Suez Canal.
Firms signaled a moderation in employment ranges amid voluntary resignations and difficulties sourcing new workers, the survey confirmed.
Input and output costs rose sharply once more, linked to increased uncooked materials and transport costs, foreign money weak point, and the latest 49% minimal wage enhance in Türkiye.
“A renewed expansion in output provided a boost to the Turkish manufacturing sector in February and suggests that we should see some solid growth numbers come through in the official data in the months ahead,” stated Andrew Harker, economics director at S&P Global Market Intelligence.
“Although new orders continued to moderate, the news here was also promising as demand neared stabilization. Firms will be hoping that new order trends can join those for output in growth mode in the near future.”
Source: www.dailysabah.com