Türkiye’s March manufacturing PMI hits neutral 50 mark

The output increased slightly, with new orders and employment approaching a more stable level last month, according to S&P Global

The Turkish manufacturing purchasing managers’ index (PMI)  hovered around the 50 mark in March, indicating stability compared to the slight increase in February, as per a prominent business survey released on Monday. 

Capital market company S&P Global’s monthly report, developed in partnership with the Istanbul Chamber of Industry, highlighted that business conditions remained steady throughout the month. Manufacturing output showed a slight increase in March, while new orders and employment experienced a minor decline but approached a more stable level. 

New orders saw the smallest decrease in nine months, prompting some companies to boost production and procurement activities in March. Andrew Harker, the economics director at S&P Global, expressed optimism that continued demand trends could accelerate growth in the second quarter. 

Although inventories were reduced, stocks of both purchases and finished goods were scaled back by the end of the first quarter. 

Source: AA