FX.co ★ Turkey Manufacturing PMI Drops to 8-Month Low

The Istanbul Chamber of Industry reported that Türkiye's Manufacturing PMI slipped to 46.7 in June 2025, down from 47.2 in May. This represents the fifteenth consecutive month the sector has contracted and signifies the most significant decline since October 2024. New orders continued to dwindle, continuing a downward trend that began two years earlier, with export orders particularly reaching a three-month low. Consequently, manufacturers reduced production at the most rapid rate observed since October 2024. Employment and purchasing activities also witnessed substantial reductions, marking the most significant declines in nine months. Meanwhile, although purchase inventories decreased, post-production inventories increased for the first time in three months. Additionally, delivery times extended for the first time in four months. On the pricing front, input costs surged significantly due to currency depreciation and the inflationary effects of the geopolitical circumstances in Iran. Conversely, the pace of increase in output prices moderated due to subdued demand.