Africa Faces Steep Costs as Temperatures Soar, Says WMO 

A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)
A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)
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Africa Faces Steep Costs as Temperatures Soar, Says WMO 

A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)
A general view of flood water in South Tokar, Red Sea State, Sudan, August 28, 2024. (Reuters)

Africa faces an increasingly heavy toll from climate change with many countries having to spend up to 9% of their budgets battling climate extremes, a World Meteorological Organization (WMO) report said on Monday.

Despite producing far lower greenhouse gas emissions than other continents, Africa's temperatures have risen more rapidly than the global average.

African countries are now losing on average 2%–5% of gross domestic product responding to deadly heatwaves, heavy rains, floods, cyclones, and prolonged droughts, said the WMO's State of the Climate in Africa 2023 report.

For sub-Saharan Africa, adapting to the changing climate will cost an estimated $30-50 billion per year over the next decade, it said, urging countries to invest in state meteorological and hydrological services and to speed up the implementation of early warning systems to save lives.

The warning comes as African countries mull how to use this year's UN COP meetings to secure a bigger share of global climate financing.

The 54-nation continent has been attracting more funds for climate mitigation and adaptation projects in recent years, but it still gets less than 1% of annual global climate financing, government officials said earlier in August.



PMI Says Turkish Manufacturing Activity Contracts in August

FILE PHOTO-Alkan shoe sole manufacturer workers work in the factory at Antakya Organize Sanayi Bolgesi industrial complex in Belen, Hatay province, March 7, 2023. REUTERS/Susana Vera Purchase Licensing Rights
FILE PHOTO-Alkan shoe sole manufacturer workers work in the factory at Antakya Organize Sanayi Bolgesi industrial complex in Belen, Hatay province, March 7, 2023. REUTERS/Susana Vera Purchase Licensing Rights
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PMI Says Turkish Manufacturing Activity Contracts in August

FILE PHOTO-Alkan shoe sole manufacturer workers work in the factory at Antakya Organize Sanayi Bolgesi industrial complex in Belen, Hatay province, March 7, 2023. REUTERS/Susana Vera Purchase Licensing Rights
FILE PHOTO-Alkan shoe sole manufacturer workers work in the factory at Antakya Organize Sanayi Bolgesi industrial complex in Belen, Hatay province, March 7, 2023. REUTERS/Susana Vera Purchase Licensing Rights

Turkish factory activity contracted for the fifth month in a row in August as a slowdown in demand caused firms to scale back output, employment and purchasing activity.

The Purchasing Managers' Index (PMI) for Turkish manufacturing ticked up to 47.8 from 47.2 in July, according to a survey by the Istanbul Chamber of Industry and S&P Global, still standing below the 50-point level that marks growth in activity, Reuters reported.

Although new export orders returned to growth for the first time in more than a year, challenging market conditions led to a further softening of total new orders, the survey showed. Some firms reported that the slowdown in demand led them to reduce workforce numbers.

Input costs continued to rise with currency weakness being the main factor behind higher prices, according to the survey, and manufacturers in turn raised their output prices in August.

Firms were reluctant to hold inventories due to a slowdown in new orders, reducing their holdings of both purchases and finished goods, the survey showed.

"The subdued overall demand picture led to further scaling back of production, employment and purchasing," Andrew Harker, economics director at S&P Global Market Intelligence, said.

"Hopefully, the nascent recovery in exports seen in August will solidify in the months ahead and spread more widely to help the sector move into recovery mode."