Turkey Manufacturing Downturn Eases In December

(RTTNews) - The manufacturing activity in Turkey deteriorated at the slowest pace in one year in December and moved closer to stabilization, survey results from S&P Global showed on Friday.

The Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index rose to 48.9 in December from 48.0 in November.  However, any reading below 50.0 indicates contraction in the sector.

Among components, output, new orders, employment, and purchasing all registered softer slowdowns in December amid signs of improving demand conditions. Meanwhile, inventories of both purchases and finished goods decreased sharply.

On the price front, input price inflation accelerated in December due to higher raw material costs, and selling price inflation rose to the highest level in eight months.