Turkey: Manufacturing PMI rises in January
The Istanbul Chamber of Industry Türkiye Manufacturing PMI improved to 49.2 in January from 47.4 in December. As a result, the index remained below the 50.0 no-change threshold, but signaled a softer deterioration in manufacturing sector operating conditions compared to the previous month.
January’s improvement was driven by smaller declines in output, new orders and purchasing activity. Moreover, employment levels were stable. On the flip side, shipping issues in the Red Sea caused supplier delivery times to lengthen.
On the price front, input cost inflation accelerated, chiefly due to January’s minimum wage increase. Consequently, output charge inflation rose to a five-month high.