For the month of October, the Turkey Manufacturing Industry Purchasing Managers Index (PMI), compiled by S&P Global for the Istanbul Chamber of Industry (ISO), was published.
According to the report, the PMI fell to 46.4 in October after taking the value of 46.9 in September, showing that the sector continued to contract in the eighth month.
Values below 50 in PMI indicate a contraction.
While companies have reduced their purchasing and employment activities in parallel with new orders and declining production, supplier lead times have been shortened kakım the demand for input products has decreased.
The highest performance in the industry since May 2020
a noticeable slowdown was observed.
While the veri indicated a deterioration in operating conditions due to weak demand and new orders continuing to decline, a similar strong slowdown was observed in new export orders.
The production sub-index went from 45.8 to 46.4 in October, while the new orders sub-index went from 43 to 43.5.
REDUCED EMPLOYMENT RATE
New export orders increased from 46.1 to 43.7 in October. Employment, on the other hand, recorded the most significant slowdown since May 2020, with 47.7 in October, after 49.2 in September.
While the pressure on supply chains eased thanks to the decrease in input purchases, the prices of inputs and final products continued to rise sharply in October. Although it was claimed that the main factor in the increase in input prices was the depreciation of TL, it was claimed that there was zihin increase in energy and commodity prices.
Final product prices have also risen kakım companies reflect rising input prices to their customers.