Factory activity in Türkiye continued its expansion in March, a closely watched survey on Monday showed, with improvements in new requests and output. However, massive earthquakes in February continued to affect the sector.
Purchasing Managers Index (PMI) for Manufacturing rose to 50.9 last month of 50.1 in February, stay above 50 points threshold Which separates expansion from contraction, Istanbul Chamber of Industry (ISO) and S&P Global said.
Increase manufacturing production panel adding that in In some cases, earthquake reconstruction efforts have led to higher production.
“Although the February earthquake continued to affect the sector, A reduced level of Demolition and reconstruction efforts contributed to the improvements in new requests and output.
The survey showed that new Requests returned growth for the first time in a year and a halflike business Strongly increased over Month and selected export orders up the pace.
Although the increase in production requirementsEmployment decreased for the first time in Five months, partly because of the earthquake however also because of new Early retirement law panel He said.
Turkish economy The consequences must now be understood of disaster that, according to the World Bank, caused 34.2 billion dollars (656.75 billion TL) in Direct physical damage – equivalent of 4% of Turkish GDP for 2021.
Status of President Recep Tayyip Erdogan cost of The damage amounted to 104 billion dollars.
Input costs and output prices have risen sharply last middle of the month higher raw material costs, currency weakness and wage increases, and panel male.
“Renewable product growth in The Turkish manufacturing sector was welcome development in Practice after the effect is noticed of earthquake in February, said Andrew Harker, Economics director at S&P Global Market Intelligence.
Although some companies are still affected, start of Reconstruction efforts supported the overall return to growth. with new Requests also upWe hope to see an end to the relatively soft conditions that companies are experiencing over the past year or so.”
