Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV
  • Business
  • Automotive
  • Economy
  • Energy
  • Finance
  • Tourism
  • Tech
  • Defense
  • Transportation
  • News Analysis

Turkey's manufacturing activity grows in November

by DAILY SABAH WITH AGENCIES

ISTANBUL Dec 01, 2020 - 10:19 am GMT+3
A man works on a machine manufactured at an atelier in northwestern Düzce province, Turkey, July 16, 2020. (AA Photo)
A man works on a machine manufactured at an atelier in northwestern Düzce province, Turkey, July 16, 2020. (AA Photo)
by DAILY SABAH WITH AGENCIES Dec 01, 2020 10:19 am
RECOMMENDED
A worker loads a truck with grain at a terminal during barley harvesting in Odesa region, Ukraine, June 23, 2022. (Reuters Photo)

'Insurers covering Ukraine grain corridor shipments for now'

black-sea-grain-initiative

The recovery in Turkey's manufacturing sector continued in September, albeit at a softer pace, amid a second wave of the coronavirus outbreak, a survey showed on Tuesday.

The headline Purchasing Managers' Index (PMI) fell to 51.4 in November, its lowest level since May, from 53.9 a month earlier, according to survey data from the Istanbul Chamber of Industry (ISO) and IHS Markit, remaining above the 50 mark that separates expansion from contraction.

Output and new orders eased, the panel said, although firms continued to hire more staff in response to the strong rebound in workloads seen in recent months.

So employment increased for the sixth consecutive month, the survey noted.

The surge in COVID-19 cases negatively affected customer demand and production processes, the panel said, while a weak Turkish lira caused further increases in both input costs and output prices.

The pandemic had an increasingly severe effect on supply chains in November, with lead times lengthening to the third-largest extent in the survey's history. This contributed to a drop in stocks of purchases, as did a slight scaling-back of purchasing activity in response to reduced output requirements.

"A resurgence of the COVID-19 pandemic took the wind out of the Turkish manufacturing sector's sails in November, with demand suffering," said Andrew Harker, economics director at IHS Markit.

"The sector has shown before that it can rebound quickly from the disruption caused by the pandemic, and firms were confident enough in the outlook to maintain job creation during the month."

Harker stressed that rises in input costs and output prices were down slightly compared with October.

A further moderation of inflation in the upcoming months is expected with the Turkish lira gaining ground recently, he noted.

RECOMMENDED
A worker loads a truck with grain at a terminal during barley harvesting in Odesa region, Ukraine, June 23, 2022. (Reuters Photo)

'Insurers covering Ukraine grain corridor shipments for now'

black-sea-grain-initiative
  • shortlink copied
  • Last Update: Dec 01, 2020 4:37 pm
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    factory activity turkey purchasing managers’ index covid-19 outbreak
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Anyone living in Türkiye will be well aware that finding affordable accommodation these days is quite the challenge. (Shutterstock Photo)

    The rental wars: Race to find accommodation in Türkiye

    EXPAT-CORNER
    The Anka-3 system is seen in this unspecified location, in Türkiye, March 13, 2023. (AA Photo)

    Türkiye reveals its 1st flying-wing unmanned fighter Anka-3

    Defense-industry

    Turkish parliamentary committee OKs Finland's NATO bid

    TÜRKIYE-FINLAND-RELATIONS

    Erdoğan attends groundbreaking, breaks fast with quake survivors

    EARTHQUAKE
    No Image
    Migratory birds flock to lakes in Turkey's Ankara
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021