More marked slowdowns in Turkish manufacturers' orders, output in July
Manufacturers, in turn, scaled back their staffing levels and purchasing activity, and made efforts to limit inventory holdings.
Turkiye's manufacturing sector lost further momentum in July as muted demand conditions led to more pronounced slowdowns in new orders and output, S&P Global Ratings said. Manufacturers scaled back their staffing levels and purchasing activity, and made efforts to limit inventory holdings. Currency weakness was a key factor leading to further increases in input costs and output prices.
Currency weakness was a key factor leading to further increases in input costs and output prices.
The headline Istanbul Chamber of Industry Turkiye manufacturing purchasing manager's index (PMI) fell for the third consecutive month in July, posting 45.9 from a reading of 46.7 in June.
The index signalled a marked moderation in the health of the sector, and one that was the most pronounced since October 2024.
Business conditions have now eased in each of the past 16 months, a release from S&P Global Ratings said.
A key theme of the latest survey was the muted nature of customer demand. This resulted in a twenty-fifth consecutive monthly easing of new orders, with the latest moderation the most pronounced since March. Demand conditions in international markets were also subdued, and new export orders slowed again accordingly.
With new orders easing, manufacturers consequently scaled back their production. Here too the pace of moderation quickened, resulting in the most pronounced slowdown in output for ten months.
Stocks of purchases eased to the largest degree since October 2024, while stocks of finished goods were depleted markedly following a slight rise in June.
Muted demand for inputs helped suppliers to speed up their deliveries, with lead times shortening for the fourth time in the past five months.
Manufacturers posted a further sharp increase in input costs during July, often linked by panellists to currency weakness. The pace of inflation eased to the slowest in 2025 so far.
Selling prices meanwhile rose at a slightly faster pace than in June, albeit one that was relatively modest as some firms lowered charges amid efforts to secure sales.
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