While December’s reading was the highest since June, it is still below the 50-point barrier separating contraction from growth.
The improvement was evident in the demand, but the contributors’ committee in preparing the index said that there are reports that inflationary pressures It is still standing, adding that the weakness of the global market led to a decline in new export orders from all business activities.
said Andrew Harker, director of economics at Standard & Poor’s Global Market Intelligence "There are tentative signs of improvement in the latest PMI survey, which if they continue into the new year we could see Turkey’s manufacturing sector regain some strength.".
added "While demand remains fragile, especially internationally, cost pressures are not as severe as they were in early 2022 and supply chain conditions have improved, raising hopes that they will give the sector a boost in 2023.".
Input purchases declined more than a month ago, while signs of improvement supported employment growth for a second month in a row, reaching the highest rate in ten months, according to the index’s contributors’ committee.
Input cost inflation remained relatively limited in December, while output prices rose at the same pace as the previous survey, and at a much lower rate than a year ago.
The committee added that delivery times to suppliers have decreased due to weak demand for inputs and reduced port disruption.
“>
Chamber of Industry said in Istanbul And Standard & Poor’s Global, Monday, said the purchasing managers’ index for the manufacturing sector reached 48.1 in December, up from 45.7 in November.
While December’s reading was the highest since June, it is still below the 50-point barrier separating contraction from growth.
The improvement was evident in the demand, but the contributors’ committee in preparing the index said that there are reports that inflationary pressures It is still standing, adding that the weakness of the global market led to a decline in new export orders from all business activities.
“There are tentative signs of improvement in the latest PMI survey, which if they continue into the new year we could see Turkey’s manufacturing sector regain some strength,” said Andrew Harker, director of economics at S&P Global Market Intelligence.
He added, “While demand remains fragile, especially at the international level, cost pressures are not as severe as they were in early 2022, as well as improved supply chain conditions, which raises hopes that it will give the sector an impetus in 2023.”
Input purchases declined more than a month ago, while signs of improvement supported employment growth for a second month in a row, reaching the highest rate in ten months, according to the index’s contributors’ committee.
Input cost inflation remained relatively limited in December, while output prices rose at the same pace as the previous survey, and at a much lower rate than a year ago.
The committee added that delivery times to suppliers have decreased due to weak demand for inputs and reduced port disruption.