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FinancialNews


  • 03-04-22

    Turkey’s Purchasing Managers’ Index drops under starting level in 10 months

    (MENAFN) Based on a closely monitored business survey released on Friday by Turkey, the country’s Purchasing Managers’ Index (PMI) for the manufacturing sector dropped under the starting point level unprecedentedly in 10 months.

    The index reached 49.4 in March, dropping from 50.4 in February, based on London-based global data firm IHS Markit’s monthly report, arranged in cooperation with the Istanbul Chamber of Industry.

    PMI for the manufacturing sector is seen as an vital measure in keeping track of the health of the sector, with numbers under 50 points showing reduction whereas numbers higher show growth.

    Andrew Harker, the economics director at IHS Markit, referred that that Russia's assault on Ukraine, which began on Feb. 24, has inserted extra pressure on the Turkish manufacturing sector.

    MENAFN03042022000045013568ID1103954834

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