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Turkey saw its least pronounced manufacturing slowdown since February in November, according to the latest Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers’ Index (PMI), released by S&P Global on December 1.
Andrew Harker, economics director at S&P Global Market Intelligence, said: "A more muted inflationary environment provided a boost to the Turkish manufacturing sector in November. Input costs and selling prices increased at the slowest rates in 2025 so far, and this coincided with less pronounced moderations across key variables such as output, new orders and employment, the latter of which neared stabilisation.
"The data provide hope that the turn of the year will see improving fortunes for manufacturers."
The headline PMI for Turkish manufacturing rose to 48.0 in November from 46.5 in October. Anything below 50.0 signals a decline in business conditions.
The data showed output, new orders and employment all eased to lesser extents than in October, while inflationary pressures waned. But output was still scaled back as firms responded to lower new orders.
New orders softened amid demand weakness.
The rate of slowdown in new export orders intensified, S&P added. Some firms in the PMI survey highlighted a competitive international pricing environment.
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