S&P GMI Economics Director: It became harder for Turkish manufacturers to get new orders
Istanbul, June 3 (Hibya) - Commenting on the Istanbul Chamber of Industry (ISO) Turkey Manufacturing PMI survey data, Andrew Harker, Economics Director at S&P Global Market Intelligence (GMI), noted that the latest PMI data shows that it is getting harder for Turkish manufacturers to receive new orders.
ISO Turkey Manufacturing Purchasing Managers' Index (PMI) declined to 48.4 in May from 49.3 in April, remaining below the threshold value of 50.0 for the second consecutive month.
Andrew Harker pointed out that the latest Turkish Manufacturing PMI data showed that manufacturers are struggling more and said:
‘The latest data suggest that Turkish manufacturers face an increasingly challenging operating environment, and new orders are becoming harder to secure. On the other hand, the easing of inflationary pressures provides optimism from now on. Given the continuing negative impact of high prices on demand, it is hoped that the retreat in price pressures will lead to a recovery in the sector in the second half of the year.’
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