MANUFACTURING PMI SEES 52.1 IN DECEMBER

The Istanbul Chamber of Industry (ICI) Turkey Manufacturing PMI (Purchasing Managers Index) increased by 0.1 points from 52.0 in November to 52.1 in December. Thus, the sector has improved in the last seven months. Continued job creation was one of the factors behind the improvement in business conditions. Input costs saw their highest levels since the middle of 2005 when the survey was first conducted. Rising prices deterred customers and resulted in a slowdown for the third successive month, but new export orders continued to rise in line with the recovery in international demand. Production decreased in December following a marginal rise in November. Price pressures were among the factors behind the slowdown. Companies faced serious price hikes at the end of 2021 as TRY devaluation increased inflationist pressures.