Turkey’s PMI: sinking | beyondbrics

Turkey’s PMI: sinking | beyondbrics:

"Turkey’s purchasing managers’ index joined Russia’s in dipping into negative territory on Thursday, in further evidence of sluggishness in the economy and of the fact that, while some countries on the edge of Europe are showing signs of renewed life, others are still stuck in the mud.

Turkey’s manufacturing PMI from Markit Economics and HSBC fell to 49.8 in July from 51.2 in June, its first dip below the 50-point mark that separates expansion from contraction since July 2012, even though the companies polled said manufacturing levels were broadly unchanged.

But companies also reported slowing aggregate market conditions and declining orders, down for the first time in 11 months."

'via Blog this'