Turkish manufacturing activity expands in Aug -PMI - Reuters

cicingwos.blogspot.com

An employee works at an assembly line in the Toyota manufacturing plant in Sakarya October 10, 2013. REUTERS/Osman Orsal

ISTANBUL, Sept 1 (Reuters) - Turkish factory activity grew in August due to solid improvements in output and new orders, a survey showed on Wednesday, while purchasing activity and employment continued to rise.

The Purchasing Managers' Index (PMI) for manufacturing rose to 54.1 in August from 54 a month earlier, data from the Istanbul Chamber of Industry and IHS Markit showed, staying above the 50.0 mark that denotes growth.

Improving demand and the recent loosening of coronavirus restrictions meant orders, especially export business, continued to rise solidly, the panel said.

A rise in employment was the fastest since the beginning of the year, as firms ramped up purchasing activity and job creation to keep on top of workloads.

Input costs and output prices rose sharply, mainly due to difficulties in securing materials with supply-chain delays, the panel also said. It added that firms had increased pre-production inventories in an effort to guard against input shortages.

"Despite the numerous challenges being faced by manufacturers at present, Turkish firms were able to sustain growth for a third successive month in August as client demand improved, while purchasing and employment were ramped up," said Andrew Harker, Economics Director at IHS Markit.

"Firms will be hoping that some of these constraints start to ease over the course of the rest of the year so that their full growth potential can be realised."

Writing by Ezgi Erkoyun; Editing by Catherine Evans

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)

"activity" - Google News
September 01, 2021 at 02:07PM
https://ift.tt/3DD0KTS

Turkish manufacturing activity expands in Aug -PMI - Reuters
"activity" - Google News
https://ift.tt/3ddCXMh
https://ift.tt/2WkO13c

Bagikan Berita Ini