Türkiye's PMI slightly up in December

ISTANBUL

Türkiye's Purchasing Managers Index (PMI) was slightly up from 47.2 to 47.4 month-on-month in December, S&P Global said on Tuesday.

Despite the increase, business conditions continued to moderate in the manufacturing sector, it said.

"Market conditions were challenging both domestically and abroad, resulting in a slowdown in new orders and scaling back of production," it said, adding that employment stabilized in the country positively.

"On the price front, the rate of input cost inflation eased to a seven-month low, but selling prices rose at a slightly faster pace," the survey showed.

"The moderation in the Turkish manufacturing sector seen at the end of 2023 summed up a challenging second half of the year for firms, with subdued demand a key feature," said Andrew Harker, a director at S&P Global.