ANKARA: Turkish manufacturing activity saw its strongest overall improvement in May since December 2013, as output, new orders, exports and employment all continued to grow, a business survey showed on Thursday. The manufacturing Purchasing Managers’ Index (PMI) rose to 53.5 in May from April’s 51.7, staying above the 50-point line that separates expansion from contraction, the Istanbul Chamber of Industry and IHS Markit said.
“The Turkish manufacturing sector stepped up a gear in May, registering the strongest overall improvement in operating conditions since December 2013,” said Trevor Balchin, a senior economist at IHS Markit. “Growth rates for output, new orders, exports and jobs all strengthened, and the backlogs index highlighted strains on capacity. Meanwhile, inflationary pressures continued to ease.” – Detailed PMI data are only available under licence from Markit and customers need to apply to Markit for a licence.
