Turkish manufacturing PMI remains unchanged in January

By Tuba Sahin

ANKARA (AA) - Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector remained unchanged at 44.2 in January, compared to a month earlier.

An Istanbul Chamber of Industry PMI Manufacturing Index report conducted in cooperation with IHS Markit on Friday signaled a solid monthly moderation in business conditions and the tenth in as many months.

"Output and new orders continued to ease, although new business slowed to the least extent in five months amid a near-stabilisation of new export orders," the report said.

A reading greater than 50 indicates the sector is growing, while a reading below 50 signals a contraction.

The input cost inflation rate softened further, enabling firms to offer discounts to try to secure new business, it noted.

Andrew Harker, Associate Director of IHS Markit, said business conditions remained challenging for Turkish manufacturers at the start of 2019.

"On a more positive note, international demand seems to be offering some support having been broadly stable in January," Harker said.