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TURKEY: Manufacturing PMI Slips to Lowest Since May 2020

TURKEY
EM BulletBulletGlobalEmerging Market NewsRegion
  • Turkey’s manufacturing PMI slipped to 44.3 in September from 47.8 in August – the lowest reading for the series since May 2020. New orders fell to 40.8, marking the 15th consecutive month of contraction.
  • Reuters report that Turkey is in the final stages of talks on a possible investment by Chinese car maker Chery as Ankara seeks to deepen its ties with Chinese car makers after reaching an investment deal with China's BYD earlier this year. The Turkish official who spoke to Reuters did not specify the investment Chery and Ankara were discussing or whether there was a timeline for reaching a final agreement.
  • Ekonomi run a piece noting that after a weak performance in previous months, commercial loans surged in September, driven by an increase in foreign currency loans, according to its banking sources.
  • The early retirement scheme has increased the number of retirees, pushing public salary payments to 21.7 million people, Dunya report citing government data.
  • The Istanbul Chamber of Commerce publishes September retail inflation data for Turkey’s biggest city at 10:00BST/12:00 local time. President Recep Tayyip Erdogan meets with Finnish President Alexander Stubb at 15:00BST/17:00 local time.
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  • Turkey’s manufacturing PMI slipped to 44.3 in September from 47.8 in August – the lowest reading for the series since May 2020. New orders fell to 40.8, marking the 15th consecutive month of contraction.
  • Reuters report that Turkey is in the final stages of talks on a possible investment by Chinese car maker Chery as Ankara seeks to deepen its ties with Chinese car makers after reaching an investment deal with China's BYD earlier this year. The Turkish official who spoke to Reuters did not specify the investment Chery and Ankara were discussing or whether there was a timeline for reaching a final agreement.
  • Ekonomi run a piece noting that after a weak performance in previous months, commercial loans surged in September, driven by an increase in foreign currency loans, according to its banking sources.
  • The early retirement scheme has increased the number of retirees, pushing public salary payments to 21.7 million people, Dunya report citing government data.
  • The Istanbul Chamber of Commerce publishes September retail inflation data for Turkey’s biggest city at 10:00BST/12:00 local time. President Recep Tayyip Erdogan meets with Finnish President Alexander Stubb at 15:00BST/17:00 local time.