Turkey's manufacturing activity deteriorated at the steepest pace in more than seven years in June, survey data from Istanbul Chamber of Industry and Markit showed Friday.
The headline manufacturing Purchasing Managers' Index fell to 47.4 in June from 49.4 in the previous month. Economists had expected the index to drop to 48.9.
Any reading below 50 suggests contraction in the sector.
Both output and new orders declined for the fourth consecutive month in June and the rate of contraction was the fastest since April 2009.
Consequently, firms stopped expanding workforces in June, following a nine-month period of modest job creation.
On the price front, input prices climbed further in June, linked to exchange rates. But the rate of inflation eased from May. Selling prices also increased at a slower pace during the month.
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