Turkish manufacturing activity ticks up in February

By Tuba Sahin

ANKARA (AA) - Turkey's Purchasing Managers’ Index (PMI) for the manufacturing sector rose to 46.4 in February.

The Istanbul Chamber of Industry PMI Manufacturing Index report done in cooperation with London-based global data firm IHS Markit ticked up 2.2 points from a month earlier.

"Business conditions have now moderated in 11 consecutive months, however," it added.

New export businesses expanded, while less pronounced slowdowns in output and new orders were seen, the report said.

The manufacturing production was scaled back to a lesser extent compared to the beginning of this year, while the rate of slowdown in new orders softened for the fifth month running, according to the report.

Growth in new export orders supported total new business inflows in the month.

Turkey's PMI for the manufacturing sector is seen as an important gauge in tracking the health of the sector, with values below 50 points showing contraction while above indicates expansion.