Russian manufacturing PMI slump deepens in September as new orders and exports tumble
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Turkish manufacturers continued to suffer a challenging demand environment in September, according to the Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers’ Index (PMI) released on October 1 by S&P Global.
Business conditions in Turkey’s manufacturing industry have now moderated on a monthly basis for a year-and-a-half.
The headline PMI posted 46.7 in September, down from 47.3 in August (any figure below 50.9 denotes a deterioration).
The September data indicates further slowdowns in new orders and exports and a solid scaling back of manufacturing production, S&P said.
Andrew Harker, economics director at S&P Global Market Intelligence, said: "The themes outlined in the latest ISO Türkiye Manufacturing PMI report make familiar reading and are in line with those seen through 2025 so far.
“Demand conditions remained challenging in September, with output, employment and purchasing all scaled back as a result. Meanwhile, there was some uplift in rates of inflation, again linked to currency weakness, but price pressures remained relatively subdued."
Softer new order inflows meant manufacturers were able to deplete outstanding business, which was reduced to the largest extent for almost a year, noted S&P.
It added: “Firms were also left with excess finished products which they added to inventories, resulting in the first increase in post-production stocks in three months.
“Given muted workloads, firms were reluctant to take on additional staff in September, and noted a preference for using existing stocks of inputs to support production over the purchasing of additional materials. As a result, employment, input buying and pre-production inventories all moderated solidly at the end of the third quarter.”
Currency weakness again contributed to a rise in input costs in September, S&P also said, adding: “The pace of inflation quickened to a three-month high and was sharp, albeit still weaker than the series average. This was also the case with regards to output prices, which increased at the fastest pace since April.”
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Russian manufacturing PMI slump deepens in September as new orders and exports tumble
Russia’s manufacturing sector deteriorated further in September, marking the fourth consecutive month of contraction, as both domestic and foreign demand weakened, S&P Global reported on September 30.
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