Manufacturing operating conditions in Turkey showed recovery in September thanks to growth in new orders, according to a closely watched business survey released Tuesday.
Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector reached 50 — the threshold level — last month, showed London-based global data firm IHS Markit’s monthly report, prepared in collaboration with the Istanbul Chamber of Industry.
More stable outlook of the sector ended “a 17-month sequence of softening business conditions,” it said.
New orders recovered in September, the first expansion in new business for a year-and-a-half, the report said, adding that new export orders continued to ease.
“The key positive from the latest Turkey PMI survey was a return to growth of new orders, in turn helping support job creation and a stabilization of output,” said Andrew Harker, IHS Markit’s associate director.
The report highlighted that the economic environment remained challenging and output remained unchanged last month.
“Should the current trajectory continue, the signs are that the final quarter of 2019 could see growth solidify and provide some welcome good news for firms after a challenging period,” Harker said.
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