Arab Today, arab today turkey’s industrial sector growth stalls
Last Updated : GMT 22:04:34
Arab Today, arab today
Arab Today, arab today

Turkey’s industrial sector growth stalls

Arab Today, arab today

Arab Today, arab today Turkey’s industrial sector growth stalls

Istanbul - Arabstoday

Turkey’s manufacturing sector stagnated in May, a closely watched survey of sentiment showed on Friday, with a slight fall in new orders suggesting a weak outlook as subdued market conditions weigh on demand. HSBC Manufacturing Purchasing Managers’ Index (PMI) fell to 50.2 in May from 52.3 in April, holding just above the 50 line that separates expansion from contraction. That signalled little change in operating conditions on the month. May’s survey indicated that new order volumes were down slightly, falling for the third time in four months as market conditions remained subdued. But new export orders rose to their strongest reading since January. The Middle East and the USA were noted as areas of demand growth. “Overall, the May PMI survey indicates that the soft patch in production during the first quarter of this year may well extend into the second for two reasons: first, weakening capital inflows due to the ongoing Eurozone crisis and, second, tightening of monetary conditions at home. While Turkey’s strong fundamentals argue for still positive growth and further job creation, the pace could be lower than originally envisaged,” said Murat Ulgen, HSBC’s chief economist for central & eastern Europe and sub-Saharan Africa. The Turkish economy was one of the world’s best performers in 2011 with growth of 8.5 per cent. In 2012, the government expects growth to slow to 4 per cent. While manufacturing output rose for the second month in a row in May, the rate of growth was only slight as the soft underlying trend in new work weighed on production, the survey showed. Turkey posted a lower-than-expected trade deficit in April, mainly on the back of a strong increase in gold exports and a sharp decline in imports, data showed on Thursday, pointing to a further improvement in the country’s huge current account gap. Turkey’s trade deficit narrowed to $6.6 billion in April from $9.08 billion a year earlier, below a forecast deficit of $7.3 billion in a Reuters poll, the Turkish Statistics Institute said. Exports rose 7 per cent to $12.68 billion and imports fell 8 per cent to $19.27 billion in April. “The lower-than-expected deficit was mainly on the back of strong export figures driven by gold exports,” wrote analysts at TEB. Total gold exports rose to $1.27 billion and 23.9 tonnes, from $75.4 million and 1.65 ton last year. Some 95 per cent of the total gold exports went to Iran in April. “April’s foreign trade data does not change Turkey’s high external deficit story, but shows that households started to resort to their gold savings, as they generally do during times of stress,” the TEB analysts added. From / Gulf Today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today turkey’s industrial sector growth stalls Arab Today, arab today turkey’s industrial sector growth stalls

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday