Kazakhstan’s services business activity rises only fractionally in March, PMI shows
3 hours ago
The contraction in Turkish manufacturing has now lasted a whole 12 months, according to S&P Global’s April 2 release of data from the Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers’ Index (PMI) for March.
The headline PMI again posted below the 50.0 no-change mark in March. At 47.3, the PMI was down from 48.3 in February and the lowest recorded since October last year.
Commenting on the survey data, Andrew Harker, economics director at S&P Global Market Intelligence, said: "Challenging market conditions both at home and abroad made for further moderations in output and new orders in March as Turkish firms struggled to secure business.
“There was a lack of pressure on capacity across the sector, with suppliers able to speed up deliveries to the greatest extent since December 2022. Inflationary pressures remained marked, however, as firms had to contend with the ongoing impacts of currency weakness."
New manufacturing orders in March slowed for the 21st consecutive month, the PMI showed.
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