Turkey Factory Activity Remains In Contraction

(RTTNews) - The manufacturing activity in Turkey deteriorated at a slightly faster pace in October amid challenging business conditions, survey results from S&P Global showed on Monday.

The headline The Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index dropped to 46.5 in October from 46.7 in September. Any reading below 50.0 indicates contraction in the sector.

Output fell for the ninth successive month and at a solid pace due to subdued demand conditions in both domestic and export markets. Consequently, employment, purchasing activity, and stocks of inputs all reduced.

On the price front, input price inflation accelerated in October, linked to higher raw material costs amid the currency depreciation effect. Nonetheless, both input and output price inflation eased.