The manufacturing sector in Turkey remained steady in March, according to survey data from S&P Global released on Monday. The Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index fell slightly to 50.0 in March, down from February's 50.2. A score below 50.0 highlights a contraction in the industry, while a score above indicates industry expansion.
Manufacturing production experienced a slight increase as new orders and employment approached a state of balance in March, as reported by the survey. Concurrently, firm's purchasing activities expanded in response to improved demand, though inventories consistently continued to fall.
In regard to pricing, input prices continued to climb due to increasing raw material costs and the lira's depreciation against the US dollar. Nevertheless, inflation alleviated to its lowest in three months. Selling prices also experienced a modest increase, marking their lowest growth in the last three months of March.
