Istanbul, Turkey - The Istanbul Chamber of Industry revealed the latest Turkey Manufacturing Purchasing Managers’ Index (PMI) data on September 2, 2024. The index experienced a marginal rise from 47.20 in July to 47.80 in August 2024.
Although the PMI has shown slight improvement, it remains below the neutral 50.0 mark, indicating continued contraction in the Turkish manufacturing sector. This modest step forward suggests that while some pressures may be subsiding, the industry is still facing significant challenges.
Economic analysts are closely monitoring these developments as the Turkish manufacturing sector continues to navigate through a landscape of economic uncertainties. Policymakers and businesses alike are hoping for a more substantial rebound in the coming months to signal a healthier recovery.
