Output growth quickened to an HSBC Manufacturing PMI high

The seasonally adjusted Purchasing Managers Index posted the highest reading since May at 56.4. Survey respondents recorded increased output during November as new orders and new export orders continued to grow at a sharp pace. The rate of new order growth quickened from October to the fastest in six months, and the rate of job creation quickened to a survey-high during November.

The leading indicator PMI has a good track record in Turkey for predicting Turkey’s economic pace. Analysts are reassured by the November index that Turkey will complete 2010 with a GDP growth of 8-8.5 percent.

Source: Markit Economics

 

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