Turkey’s manufacturing sector continues to contract in July as the Purchasing Managers’ Index (PMI) below 50.0 sign of no change for the fifth month in Respectively, according to the US-based financial S&P Global Services Company on Monday.
Manufacturing PMI fell to 46.9 in July from 48.1 in June, indicating the most obvious slowdown in business Since May 2020.
The decline It was driven by a shortage of demandexacerbated by uncertainty market Conditions and Continuing price pressures.
Both output and new relaxed orders in July, to the greatest degree since first plank of COVID-19 pandemic.
companies scaled back Buying activity while stocks of input decreased for The first time in Three months in July.
“The market uncertainty, weak demand And the price It means pressure for tough time for Turkish manufacturers like second half of The year seem , with Just new Export orders and employment relatively positive aspects of The latest PMI Survey, “Andrew Harker, Economics director At S&P Global, he said.
“drop price Stress can provide some opportunities for Companies to entice customers back in the coming months” added.
