FX.co ★ Turkey Manufacturing Activity Falls to 3-Month Low

The Istanbul Chamber of Industry's Türkiye Manufacturing PMI slightly decreased to 46.5 in October 2025 from 46.7 in September. This marks the 19th consecutive month of contraction and is the most significant decline since July. The reduction in output was notable, driven by weakened demand and a slowdown in new orders. Both domestic and export markets showed sluggish conditions, with a decrease in foreign new orders. Companies responded by reducing employment, scaling back on purchasing activities, and lowering input inventories. The reduced demand for inputs led to a slight improvement in supplier delivery times, reversing a two-month trend of declining vendor performance. However, input costs continued to rise sharply, largely due to currency depreciation and increased raw material prices. Although the pace of output price increases slowed, it remained substantial.