FX.co ★ Turkey Manufacturing Contracts at Fastest Pace in 4 Months

The Istanbul Chamber of Industry Türkiye Manufacturing PMI declined to 47.3 in October 2026, down from 47.9 in September, signaling a continued contraction in the sector for the 31st consecutive month. The downturn was the steepest since June, as challenging market conditions drove further slowdowns in both production and new orders. Employment also fell, reflecting reduced workloads and staff resignations, though the rate of job losses remained modest and was the slowest since June.

On the price front, input costs rose, driven by higher oil prices, increased raw material expenses, and unfavorable exchange rate movements. While input cost inflation eased compared with September, it stayed elevated and above the average pace recorded so far this year. Output prices also increased sharply once again. Supplier performance continued to worsen, with delivery times lengthening every month over the past year, although the latest deterioration was relatively moderate.