Turkey Manufacturing Growth At 6-Month High

Turkey's manufacturing growth was the fastest in six months in July, mainly due to the loosening of Covid-19 restrictions, survey results from IHS Markit showed on Monday.

The headline Istanbul Chamber of Industry Turkey manufacturing Purchasing Managers' Index rose to 54.0 in July from 51.3 in June. Any reading above 50.0 indicates expansion in the sector.

New orders increased in July at the fastest pace since August last year and new export orders improved, amid a rise in international demand.

Production increased for the second straight month in July and backlogs of work remained broadly unchanged.

Employment level and purchasing activity increased in July. Suppliers' delivery time lengthened.

On the price font, input cost inflation rose for the third month in a row in July and selling prices increased.

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