Turkey's manufacturing PMI at 52.5 in September

Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 52.5 in September, according to figures released on Friday.

The PMI slipped from 54.1 in August but still signaled a solid monthly improvement in operating conditions, read a monthly report by the Istanbul Chamber of Industry and London-based global data firm IHS Markit.

“Output and new orders have each now risen in four successive months, with the latest improvements in demand supporting further expansions in employment and purchasing activity,” the report said.

Despite this, backlogs of work increased for the first time since July 2020 amid a sustained expansion of work, it added.

Manufacturing PMI is a composite single-figure indicator of manufacturing performance, and any figure greater than 50 indicates an overall improvement of the sector.

“Total new business volumes were supported by a further marked rise in new export orders,” read the report.

“Manufacturers also raised their purchasing activity in line with higher output requirements, and stocks of purchases were accumulated for the second month running.”

Supply chain delays moderated at the end of September, it added.

“Although raw material shortages and delays importing items contributed to a further lengthening of suppliers’ delivery times, the latest deterioration in vendor performance was the least marked for a year,” the report said.