Turkey’s PMI hit highest level since January with improving customer demand, easing of COVID-19 restrictions
The upturn in the Turkish manufacturing sector continued with a headline figure hovering above the threshold level for the third consecutive month in August.
Turkey’s purchasing managers’ index (PMI) for the manufacturing sector read 54.1 in August, slightly up from 54.0 a month ago, IHS Markit’s monthly report prepared in collaboration with the Istanbul Chamber of Industry showed on Wednesday.
The August figure was at its highest level since January.
The monthly rise is owed to improving customer demand and the recent loosening of COVID-19 restrictions which “meant that new orders continued to rise solidly during August,” it said.
New export business increased sharply in the month, helping to boost output in some cases, the report noted.
In order to keep on top of workloads, firms expanded their purchasing activity and employment significantly,it stressed, adding the rise in employment was the fastest since January.
It underlined that ongoing supply-chain disruption contributed to further increases in input costs and selling prices.