Manufacturing PMI rises slightly in July

ISTANBUL

The Istanbul Chamber of Industry Türkiye Manufacturing PMI rose to 47.7 in July from 47.1 in June, but remained below the 50 no-change mark, according to a closely watched survey on Aug. 3.

The headline PMI signaled a further solid moderation in the health of the manufacturing sector, S&P Global said, adding that business conditions have now eased in 28 successive months.

New orders slowed markedly again, albeit at a slightly weaker pace than in June, it said.

Panelists linked softer new business to subdued market conditions and price pressures. The war in the Middle East meant that international demand also waned at the start of the third quarter, according to the survey.

Subdued market conditions led manufacturers to scale back production for the second month.

Firms also scaled back their purchasing activity and inventories in response to muted demand conditions.

The pace at which output prices rose was the weakest in 2026 so far, the survey said.

Manufacturing production at least moderated to a lesser degree than in June, signaling a more stable picture,” commented Andrew Harker, economics director at S&P Global Market Intelligence.

“Also positive was a further easing in the rate of input cost inflation which provided some breathing space for firms to limit rises in selling prices in order to try to stimulate demand,” he said.