ISO Turkey Manufacturing PMI Report for September 2026 Released

According to the September 2026 results of the Istanbul Chamber of Industry Turkey Manufacturing PMI survey, the headline index, which was 48.1 in August, declined to 47.9 in September, revealing that the moderate slowdown in the manufacturing sector continues and the monthly deterioration in operating conditions has reached two and a half years.

Headline PMI Declined in September

The September 2026 results of the Istanbul Chamber of Industry Turkey Manufacturing PMI survey have been announced. Remaining below the threshold value of 50, the headline PMI fell from 48.1 in August to 47.9 in September.

With this development, while the moderate slowdown process in the manufacturing sector's operating conditions continued, operating conditions recorded a monthly deterioration throughout the last two and a half years.

Demand and Production Conditions Under Pressure

Uncertainties caused by the war in the Middle East led to unfavorable demand conditions and the continuation of the decline in new orders in September.

Challenging market conditions and low new orders caused manufacturers to reduce production for the fourth consecutive month in September.

Costs and Price Inflation Rising

Rising fuel, oil, and transportation costs due to the war in the Middle East, as well as increases in raw material prices, caused input costs to rise sharply in September as well.

With the reflection of rising input costs onto customers, final product price inflation also reached its highest level in the last four months.

Sectoral Production Distribution and Expert Views

According to the Istanbul Chamber of Industry Turkey Sectoral PMI September report, production slowed down in nine of the 10 sectors monitored within the scope of the survey, with the food products sector being the only exception.

S&P Global Market Intelligence Economics Director Andrew Harker stated that uncertainties regarding geopolitical conditions continue to limit growth in the sector.