PMI Realized as 51.4 in November
PMI Realized as 51.4 in November – Turkey’s manufacturing sector Purchasing Managers ‘ Index (PMI) was 51.4 in November.
In November, the Istanbul Chamber of Industry (ISO) Turkey Manufacturing PMI (Purchasing Managers ‘ Index) was held at 51.4.
Based on ISO’s data, the main challenge faced by companies in November was that the increase in the number of Covid-19 cases in Turkey had a negative impact on customer demand and production processes.
As a result of this, a slowdown in production and new orders occurred. In addition, it was noted that new export orders lost momentum.
Only four of the 10 sectors observed had an improvement in their operational status. Regarding new orders, it was seen that two sectors, plastic, chemical and rubber, and food products, were in the growth part.
The relatively positive development in the survey was that firms continued to increase their employment levels after the strong recovery in business volumes in previous months. The uptrend in employment reached its sixth month and continued to maintain its strong progress. The developments that enabled firms to continue to reduce their backlogs were the increase in the number of workers and the slowdown in new orders.
Our articles are written for informational purposes. This is not an investment advice.
