New orders and output in Turkey’s manufacturing sector have continued to slow down due to “hard activity conditions,” data from a closely-watched survey revealed on Oct. 1.
A reading greater than 50 indicates the sector is growing, while a reading below 50 signals a contraction.
“The current hard activity conditions affected the most recent state of the index. Both output and new orders continued to slow, with companies scaling back employment and purchasing activity accordingly,” the İSO said in a statement.
It said inflationary pressures remained substantial, reflecting a weaker Turkish Lira.
“Lira weakness again contributed to inflationary pressures, while difficulties in sourcing materials were reported,” it added.