Manufacturing weakness extends to 2.5 years

The Istanbul Chamber of Industry Türkiye Manufacturing PMI fell to 47.9 from 48.1 in August. This marked 2.5 years of uninterrupted monthly deterioration in operating conditions. Weak demand and uncertainty caused by the war in the Middle East weighed on new orders, while export orders also declined.

Sector data showed that production slowed in nine of the 10 industries monitored. Food products was the only sector to increase output, while the sharpest contraction was recorded in chemicals, plastics and rubber products. Manufacturers reduced employment, purchasing activity and inventories due to weak orders, while higher fuel, oil, transportation and raw material costs pushed input price inflation to its highest level in four months.