The Turkey PMI™ Manufacturing Index, issued by Istanbul Chamber of Industry and Markit, was at 42.7 points in September this year, down from 46.4 points in August. Any figure greater than 50 indicates an overall improvement of the sector.
Current challenging economic conditions were behind the latest reading, with both output and new orders slowing again in September. For the second straight month, record increases were seen for both input costs and output prices amid the weakness of the Turkish lira.
“There was little respite for Turkish manufacturers in September as business conditions remained challenging to say the least. Strong inflationary pressures were again in evidence, with clients deterred from committing to new orders and the supply chain impacted,” said Andrew Harker, associate director at IHS Markit.