Manufacturing PMI rises slightly in February

ISTANBUL

The headline manufacturing PMI rose slightly to 48.3 in February from 48 in January, but it remained below the 50 no-change mark, data provider S&P Global has revealed.

The February data pointed to a moderation of business conditions midway through the opening quarter of the year, it said, adding that the health of the sector has eased continuously since April 2024.

Any figure greater than 50 indicates overall improvement in the sector.

Business conditions remained challenging in the Turkish manufacturing sector in February as muted market demand fed through to slower new orders, output and employment, said S&P.

Meanwhile, rates of both input cost and output price inflation quickened from the start of the year.

New business eased for the twentieth consecutive month and at a solid pace, albeit with the rate of moderation easing from January, according to S&P.

“Weakness was also seen with regards to new export orders, which slowed to the greatest extent since last October,” it said.

The latest rise in input prices was sharp, and linked by panelists to increased costs for raw materials and staff, as well as the inflationary impact of currency weakness, it noted.

Suppliers' delivery times lengthened marginally again in February, with delays linked to price increases and geopolitical issues.