FX.co ★ Turkey’s Manufacturing Contraction Deepens as Istanbul Chamber of Industry PMI Falls to 47.9 in March

Turkey’s manufacturing sector showed a sharper slowdown in March, as the Istanbul Chamber of Industry Manufacturing Purchasing Managers’ Index (PMI) slipped further below the 50-point threshold that separates expansion from contraction.

The PMI eased to 47.90 in March 2026, down from 49.30 in February 2026, signaling a more pronounced deterioration in operating conditions for Turkish manufacturers. The continued reading below 50 points to weakening activity in the sector, with March marking a deeper contraction than the previous month.

The latest data, updated on 1 April 2026, will likely fuel concerns over the momentum of Turkey’s industrial base, a key driver of employment and exports. Market participants and policymakers will be watching upcoming releases closely for signs of stabilization or further softening in manufacturing activity.