Turkish manufacturing activity contracts in October

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ISTANBUL - Turkish factory activity contracted for a fourth consecutive month in October as firms struggled to secure new business and scaled back production, a survey showed on Wednesday.

Total new orders slowed the most since late last year, signalling widespread demand weakness, both domestically and internationally, the survey showed.Manufacturers scaled back their purchasing activity, stocks of purchases and inventories of finished goods in response to a drop in order requirements, the panel showed.

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