ECONOMY

Turkish manufacturing sector continues to improve

TURKISH MANUFACTURING SECTOR CONTINUES TO IMPROVE

Turkey's Purchasing Managers' Index (PMI) for the manufacturing sector reached 53.5 in September thanks to solid growth of new orders, according to a closely watched business survey released on Monday.

London-based global data company IHS Markit's monthly purchasing managers' index report -- prepared in collaboration with the Istanbul Chamber of Industry -- showed manufacturing operating conditions in Turkey continuing to improve for a seventh consecutive month.

"The latest figure marked the seventh successive month of improving business conditions, which is the longest period of consecutive growth since 2014," the report read.

Strong demand for Turkish manufactured goods reflected positively in the data, the report said.

"Firms benefited from strong inflows of new work and raised output accordingly. New export business also increased further, though at a slower rate than that for total new orders," it said.

The latest PMI report revealed inflationary pressures on the sector had weakened slightly.

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