ANKARA (dpa-AFX) - Turkey's manufacturing sector grew at a softer pace in February, survey results from IHS Markit showed on Monday.
The headline Istanbul Chamber of Industry Turkey manufacturing Purchasing Managers' Index fell to 51.7 in February from 54.4 in January. Any reading above 50.0 indicates expansion in the sector.
New export orders rose for the second straight month in February. Production expanded in spite of slowdown in new business.
Output grew for the second straight month in February and backlogs of work lowered to the greatest extend since September last year. The staffing level increased further in February.
On the price front, input costs continued to rise in February albeit at a softer pace. Input prices increased and output price inflation softened to the lowest in ten months.
Suppliers' delivery time lengthened in February.
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