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The Yorkshireman
Turkish manufacturing activity contracts for fourth straight month in June

Turkish manufacturing activity contracts for fourth straight month in June​



Extract:
ISTANBUL, July 1 (Reuters) - Turkish manufacturing activity contracted for a fourth consecutive month in June as weakening demand prompted companies to curb production, a business survey showed on Friday.

Turkey's Purchasing Managers' Index (PMI) for manufacturing stood at 48.1 in June, down from 49.2 in May, according to the survey by the Istanbul Chamber of Industry and S&P Global, dropping further below the 50-point line that marks a contraction in activity.

The survey points to a challenging demand environment in Turkey, the survey panel said, adding that output and purchasing activity eased, while input cost and output price inflation remained sharp.
 

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