Page 23 - TURKRptJun20

4.2​ Inflation
Turkey’s headline rate of inflation ​eased​ from 11.86% in March to 10.94% in April.
4.3​ Industrial sectors and trade 4.3.1​ PMI Production dynamics
Commenting on the survey data released on April 4, Andrew Harker, economics director at IHS Markit, ​said​: “​Firms were unable to maintain hiring​ in the face of sharply falling workloads, and can only hope that conditions begin to ease in the coming months.”
The PMI was posted at 33.4 for April, down from 48.1 in March (figures below the 50.0 threshold are in contraction territory), with ​company shutdowns widely reported​.
“Firms recorded a steep slowdown in new export orders”.
“Input costs continued to rise markedly during April, albeit at the slowest pace in three months. Currency weakness was often mentioned as the main factor leading input prices to increase. Manufacturers responded to higher input
23​ TURKEY Country Report​ June 2020 ​ ​www.intellinews.com