FX.co ★ Turkey Manufacturing PMI Falls to 5-Month Low

The Istanbul Chamber of Industry Türkiye Manufacturing PMI dropped to 47.9 in March 2026, down from 49.3 in February, marking its lowest level since October 2025. The decline reflected a sharper slowdown in both total new orders and export orders, as demand weakened amid the ongoing war in the Middle East. Production also fell, reaching its lowest point since November 2025. The conflict intensified inflationary pressures, pushing up freight, fuel, and oil costs. As a result, input costs and output prices rose at their fastest pace in 23 and 25 months, respectively. Supplier delivery times lengthened to the greatest extent since August 2024. In addition, manufacturers cut employment at the steepest rate in six months and scaled back both purchasing activity and inventory levels.