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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
MNI (London)
TURKEY JAN MANUFACTURING PMI 50.1; DEC 48.1
The Turkish manufacturing PMI rose two points in January, edging back into cautiously expansive territory at 50.1. This was the >50 print since Feb '22.
- Declines in output and new orders were marginal in January as demand (including for exports) showed tentative signs of improvement. Employment ticked up for a third month.
- Yet inflationary pressures intensified into 2023.
- Cost inflation accelerated sharply due to minimum wage increases alongside high raw material costs. This in addition to lira weakness led firms to raise output prices the fastest since June '22.
- Turkish industrial production contracted for the first time since the 2020 pandemic shock in November (-1.3% m/m). This data is evidence for the year-end contraction having like been brief.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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