Turkish manufacturing PMI ticks down in October

ISTANBUL

Turkish manufacturing firms continue to face challenging business conditions at the start of the final quarter of the year, resulting in further slowdowns in new orders and output, a closely watched survey showed on Nov. 3.

The Istanbul Chamber of Industry Türkiye Manufacturing PMI, compiled by S&P Global, registered at 46.5 in October, down fractionally from 46.7 in September and the lowest reading in three months.

Any figure greater than 50 indicates overall improvement of the sector.

Manufacturing output eased for the nineteenth consecutive month, and at a solid pace that was sharper than seen in September, said S&P Global, noting that anecdotal evidence pointed to muted customer demand and an associated slowdown in new orders.

“Currency weakness was a key contributor to a further sharp rise in input costs, with manufacturers increasing their output prices accordingly,” it added.

New orders softened again in October, albeit at a slightly softer pace, showed the survey.

“Subdued demand was signaled in both domestic and export markets, with new business from abroad also slowing during the month,” it said.

Muted demand conditions again set the scene for the Turkish manufacturing sector in October, leading to slowdowns in output, new orders, employment and purchasing, commented Andrew Harker, economics director at S&P Global Market Intelligence.

“These patterns have been seen throughout 2025 so far and there is little sign of an end to the challenges facing firms in the near future,” said Harker.