Although the headline Istanbul Chamber of Industry (İSO) Türkiye Manufacturing PMI remained below the 50 no-change mark in December, it rose for the second month running to 48.9 from 48.0 in November.
“It signaled only a slight moderation in operating conditions in the final month of the year. In fact, the slowdown was the least marked for 12 months,” said S&P Global on Jan. 2.
New orders eased to the smallest degree since March 2024 as some firms signaled improvements in customer demand, it noted, adding that, nonetheless, both total new business and new export orders continued to moderate in December.
“In line with the picture for new orders, production was scaled back again in December, albeit at a slower pace than in November.”
Input costs increased sharply amid reports of higher raw material costs, with manufacturers subsequently raising their own selling prices at the fastest pace in eight months, it said.
“With the PMI Manufacturing Index reaching its highest level for a year in December, the manufacturing sector takes some momentum into 2026, giving hope that we will see growth in the months ahead,” commented Andrew Harker, economics director at S&P Global Market Intelligence.
"While inflationary pressures rebounded following the recent lows seen in November, rates of increase in input costs and output prices were still comfortably below the highs we have seen at times in recent years and so shouldn't act to restrict demand for now,” he said.
