Turkish Manufacturing Continues To Contract In March

- Turkey's purchasing managers’ index (PMI) fell for a third successive month in March, due to a steeper drop in output than in February and longer supplier delivery times, according to the Turkish PMI survey data prepared by Markit for HSBC.

HSBC Turkey Manufacturing PMI is a composite single-figure indicator of manufacturing performance. It is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases. The PMI registered below the no-change mark for the third straight month in March, and fell to 48.0 from 49.6 in February.