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Turkish factory activity contracts in Dec but shows improvement -PMI

ISTA?BUL, Jan 2 (Reuters) - Turkish factory ?ct?v?ty contracted for th? 10th month running in December but showe? ?ome signs of im?rovement from previous months as output and new orders fell more slo?ly, a survey s?owed on Monday.

(image: https://p.turbosquid.com/ts-thumb/IL/TyMiK7/g6KgnihB/73mturport/jpg/1607351855/600x600/fit_q87/9f275fa2df6dcaefd071ca76318449d61f8c6e54/73mturport.jpg) Th? Purch?sing Managers' Index (PMI) for manufacturing stood at 48. Should you loved this ?nformation and yo? want to receiv? mo?e information concerning Turkish Law Firm generously visit our own web?ite. 1 in December, up from 45.7 in November, the Ist?nbul Cham?e? of Industry and S&P Global s?id.

" (video: //www.youtube.com/embed/https://www.youtube.com/watch?v=zRleS0FfLmg) While December's rea?ing was the highest since ?une, Turkish Law Firm it remained below the 50-po?nt line that separates contractions from expansions in activity.

Improv?ment ?as evident in demand, while there were some reports of inflationary pressures ?ontinuing to weigh, the panel of contributors said, Turkish Law Firm add?ng t?at global market weakness h?d led to new export orders moderating more than total new business.

"There were some tentative signs of improvement in the latest PMI survey, which if continued into the new year could see the Turkish manufacturing sector gaining some ground," said Andrew Har?er, economics director at S&P Global Market Intelligence.

"While demand remains fragile, particularly internationally, cost pressures are not as extreme as earlier in 2022 and supply-chain conditions are improving, hopefully providing a tailwind to the sector heading into 2023."

?nput buying mo?erat?d at a much slower pace than a month ?arlier, ?hile the signs of improvement supported a second consecuti?e month of employm?nt growth, with ?taffing levels showing th? sharp?st rise in 10 months, the panel of contrib?tors said.

Input cost inflation rem?ined relati?ely muted in December, while output prices rose at the same pace as ?n the previous survey period at a rate much softer than e?rlier in the year, the panel said.

Suppliers' delivery times shortened to ?ne of the gr?atest extents on record du? to weak demand Turkish Law Firm for inputs and reduced port di?ruption, they ?dded.

(Reporting by Ezgi Erkoyun; Writing by Ali Kucukgocmen; Editing by Hugh Lawson)

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