FX.co ★ Turkey’s Manufacturing Downturn Deepens as Istanbul PMI Slips Further in October

Turkey’s manufacturing sector remained in contraction territory in October, with conditions deteriorating slightly compared with the previous month. The Istanbul Chamber of Industry Manufacturing PMI eased to 47.30 in October 2026, down from 47.90 in September 2026.

A reading below the 50.0 threshold signals a contraction in manufacturing activity, and October’s weaker figure points to a further loss of momentum in the sector. The data, updated on 2 November 2026, suggest that Turkish manufacturers are facing ongoing headwinds, with output and demand likely under pressure as the downturn extends into the final quarter of the year.

The consecutive sub-50 readings highlight persistent softness in industrial activity, which could weigh on broader economic performance if the trend continues. Investors and policymakers will be watching upcoming PMI releases closely for signs of either stabilization or further deterioration in Turkey’s manufacturing outlook.