Turkish manufacturing PMI drops to 45.7 in April

ISTANBUL

The headline Istanbul Chamber of Industry (İSO) Türkiye manufacturing PMI posted 45.7 in April, down from 47.9 in March, showed a closely watched survey on May 4.

This signaled a solid monthly easing of business conditions in the manufacturing sector at the start of the second quarter of the year, S&P Global said.

The impacts of the war in the Middle East on the Turkish manufacturing sector intensified during April, it noted.

Price rises, material shortages and muted demand conditions were all linked by panelists to the conflict, according to the survey.

“As a result, rates of input cost and output price inflation accelerated, suppliers' delivery times lengthened markedly, and firms signaled sharp moderations in output and new orders,” it said.

Manufacturing production was scaled back to the joint-largest extent since the COVID-19 pandemic, with the pace of moderation equal to that seen in September 2024, it added.

“Concerns around how long the effects of the conflict may persist mean that manufacturers are in a cautious mood, scaling back employment, purchasing and inventories accordingly,” commented Andrew Harker, economics director at S&P Global Market Intelligence.

Firms will be hoping for a speedy resolution to the war in order to be able to get back on track in the months ahead, Harker said.