Turkey Manufacturing Growth Slows In April

Turkey’s manufacturing sector grew at a softer pace in April, mainly due to the current wave of Covid-19 infections, survey results from IHS Markit showed on Monday.

The headline Istanbul Chamber of Industry Turkey manufacturing Purchasing Managers’ Index fell to 50.4 in April from 52.6 in March. Any reading above 50.0 indicates expansion in the sector.

Output growth eased at a three-month sequence and new orders growth moderated in April. New business from abroad increased for the fourth month in a row.

The number of employment expanded in April, albeit at a softer pace. Outstanding works declined to the greatest extend since May last year.

Input costs increased sharply in April and selling prices rose.

The overall business confidence improved marginally in April and the sector strengthened to the least extent in the current eleven-month sequence of growth.

“Performance in the months to come will likely depend on how quickly infections come down, helping the sector to operate in a more normal environment,” Andrew Harker, economics director at IHS Markit, said.

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