In a promising development for Turkey's manufacturing sector, the Istanbul Chamber of Industry's Turkey Manufacturing Purchasing Managers' Index (PMI) indicated signs of recovery as it climbed to 49.10 in December. This increase comes after the PMI recorded a figure of 48.30 in November 2024, marking a notable improvement, though it still remains below the 50 threshold that separates growth from contraction.
The latest data, updated on January 2, 2025, suggests that while the sector is still contracting, the rate of contraction has slowed. This trend could be a positive signal for Turkey's manufacturing industry and broader economic landscape as they head into the new year.
Analysts will be watching closely to see if this upward trajectory continues in the coming months, as it may indicate a turn towards stabilization and eventual growth, amid the challenges posed by the global economic environment and domestic factors affecting the country's manufacturing competitiveness.
