02.01.202407:10:00UTC+00Turkey Manufacturing Downturn Continues In December

The Turkish manufacturing sector remained in contraction for the sixth successive month in December amid challenging demand conditions, survey results from S&P Global showed on Tuesday.

The headline Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index rose slightly to 47.4 in December from 47.2 in November. However, any reading below 50.0 indicates contraction in the sector.

New orders slowed down, and production was reduced due to challenging market conditions both domestically and abroad.

Despite this, employment stabilised in December, thereby ending a two-month sequence of moderation.

On the price front, input costs rose further in December due to higher wages and increased raw material prices. Nonetheless, the rate of cost inflation eased for the fifth straight month, while output price inflation was the strongest since August.