Türkiye's factory activity remained in contraction territory in September as the Middle East war continued to weigh on companies, a closely watched survey showed on Thursday.
S&P Global said on Thursday that its Türkiye Purchasing Managers' Index (PMI) fell to 47.9 in September from 48.1 in August, with firms citing the war in the Middle East as a drag on new orders and output.
Operating conditions have now moderated on a monthly basis for 2-1/2 years, with input cost inflation reaching a four-month high in September as fuel, oil and transportation costs rose, tied to the Middle East conflict.
Softer demand conditions led to a further slowdown in new orders in September. New export orders also eased as international demand remained muted.
Uncertainty around geopolitical conditions put the handbrake on growth in the sector but the average PMI for Q3 was slightly higher than in Q2, suggesting "some tentative signs of recovery," said Andrew Harker, economics director at S&P Global Market Intelligence.
