Business conditions in Turkish manufacturing sector improve

ISTANBUL

The Turkish manufacturing sector's business conditions "moved closer to stabilization" at the end of the third quarter, data provider S&P Global stated on Monday.

It said employment continued to rise, while input and output costs softened sharply in September.

The Purchasing Managers Index (PMI) in the sector rose to 49.6 in September from 49 on a month-on-month basis.

"The health of the sector has now softened in three successive months," it added.

It was noted that output moderated in the third quarter, reflecting weak market conditions and a slowdown in new orders.

"Both total new orders and new export business eased further in September, but at a softer pace than in August," it added.

Andrew Harker, economics director at S&P Global, said there were signs of stabilization in the sector, while some companies saw demand that held up well in September.

"Although business conditions remained challenging overall, the latest data provide some hope that a return to growth can be recorded before the end of the year," he underlined.

"One help to firms in September was a marked easing of inflationary pressures amid some relative currency stability," he added.