PMI

Latest PMI data signaled unchanged operating conditions for Turkish manufacturers in March with the headline PMI posting at the 50 no-change mark, a survey by S&P Global has shown.

Any figure greater than 50 indicates overall improvement in the sector. The headline PMI reading was 50.2 in February.

Eurozone factories ended 2023 on the back foot, with activity contracting in December for an 18th straight month, according to a survey which gave scant signs of any imminent strong bounce back in an economy likely in recession.

Greek factory activity picked up slightly in November for the 10th month in a row amid rising production volumes, but subdued export sales held back order books, a survey showed. 

The stock market could not hold on to early gains Wednesday after deteriorating Purchase Managers' Index (PMI) numbers soured the mood in European markets.

The general index closed at 1,293.73 points, down 0.52%, on a low turnover of €71.7 million. Blue chips dropped 0.61%, mid-caps 0.31% and banks 0.15%

Industrial production in Greece rose 2.1% in January-May 2023 compared to the same period in 2022, outperforming the eurozone, as natural gas prices continued to decline and companies reined in payroll costs, data released by statistics agency ELSTAT show.

Manufacturing, which accounts for 73% of the industrial index, rose 5.7% year on year and mining production was up 9.6%.

Business expectations for industry are on the upswing as the negative impact on demand from inflationary pressures appears to have been largely contained.

Sabancı Holding, one of Turkey's prominent conglomerates, has applied to the Competition Authority to sell its stakes at two tobacco companies to its long-time partner Philip Morris International (PMI).

Turkey's Purchasing Managers' Index (PMI) for the manufacturing sector dropped to 51.7 in February, a monthly business survey revealed on March 1.

The PMI decreased by 2.7 points from 54.4 in January, according to the report by the Istanbul Chamber of Industry, prepared in collaboration with London-based global data firm IHS Markit.

Turkey's Purchasing Managers' Index (PMI) for the manufacturing sector rose to 40.9 in May, a monthly business survey revealed on June 1.

The PMI increased by 7.5 points from 33.4 in April, according to the report by the Istanbul Chamber of Industry, prepared in collaboration with London-based global data firm IHS Markit.

Turkey's Purchasing Managers' Index (PMI) for the manufacturing sector stood at 33.4 in April, according to a monthly business survey on May 4. 

The Istanbul Chamber of Industry report, in collaboration with London-based global data firm IHS Markit, showed that the April figure dropped by 14.7 points month-on-month, posting the steepest decline since the global financial crisis.