Turkey Manufacturing Downturn Eases In August

(RTTNews) - The manufacturing activity in Turkey deteriorated at a slower pace in August despite a challenging market environment, survey results from S&P Global showed on Monday.

The headline The Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index rose to 47.3 in August from 45.9 in July. However, any reading below 50.0 indicates contraction in the sector.

Among components, both output and new orders moderated to lesser extents than in July, and firms continued to reduce workforce numbers and purchasing activity.

On the price front, input price inflation accelerated in August due to currency weakness, while selling price inflation eased to the slowest this year so far.