Turkey’s manufacturing operation conditions continued its recovery in August with support from strong customer demands to output and new orders increase according to the business survey released earlier this month. The manufacturing sector PMI reading is at 54.3 last month, according to IHS Markit monthly report for Turkey collaborated with the Istanbul Chamber of Industry.
Purchasing Managers’ Index (PMI) for the manufacturing sector in Turkey in July was at 56.9, and even though the latest reading was slipped down, the current state is still comfortably above the 50.0 threshold separating growth from contraction, signifying a monthly improvement of business conditions.
Turkey’s companies and firms had expanded their employment and purchasing activity as the consumer demands level were promising, new orders rising at one of the fastest pace in more-than-two-and-a-half-years.
Moreover, the weakening of Turkish currency, Lira, against the U.S dollar has led to accelerated inflation in both output prices and input costs, and the firm's responses are raising the selling prices to the highest level seen in the last 23 months. After the steep pace of rising in over nine years in July, production expansion pace softened but remained at the sharp.
