Russian services downturn deepens as demand weakens and confidence hits three-and-a-half-year low
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Turkey’s manufacturing sector moved closer to stabilisation in December, with business conditions moderating only slightly, according to the Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers’ Index (PMI).
The headline PMI rose for the second month running. It increased to 48.9 from 48.0 in November (anything below 50.0 signals a decline in operating conditions).
Andrew Harker, economics director at S&P Global Market Intelligence, said: "With the Istanbul Chamber of Industry Türkiye 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.
“A number of survey respondents noted that customer demand improved at the end of 2025, leading to softer slowdowns in new orders, output and employment.
"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."
New orders in December eased to the smallest degree since March 2024.
S&P noted that the latest index moderation was the twenty-first in as many months, but the least pronounced for a year.
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