Turkey's Manufacturing Sector PMI Decreased

Manufacturing Sector PMI data decreased. The data in question was recorded as 51.7 in February.

Turkey's manufacturing sector purchasing managers index (PMI) decreased, came in at 51.7 in February. The index was realized as 54.4 in January. Looking at PMI February data, while production increased in four of the 10 sectors monitored, the strongest growth was seen in the base metals sector. Delivery times for suppliers in all ten industries have increased. While new orders increased only in non-metallic mineral products and base metal industry sectors, a growth was observed in new export orders of more sectors when compared to the total new orders. Eight of the ten sectors have increased employment. According to the results of the survey, where all figures measured above the threshold value of 50.0 signal an improvement in the sector, the headline PMI realized above the threshold value of 50.0 for the ninth consecutive month in February and pointed out that the improvement in operating conditions continues. PMI, which was measured as 54.4 in January, decreased to 51.7 in February, indicating a moderate improvement in the sector's performance. The overall recovery in operating conditions continued despite a decrease in new orders due to the ongoing effects of the coronavirus (Covid-19) outbreak. In addition, new export orders increased for the second month in a row. Despite the slowdown in new orders and the problems in raw material supply, some signs of recovery on the demand front were effective in increasing production by manufacturers.