Türkiye’s manufacturing sector is demonstrating its resilience, with the latest Purchasing Managers’ Index (PMI) survey revealing a nearing stabilization in the industry.
The headline PMI rose to 49.1 in December, indicating a slight moderation in the sector’s health, which is the least pronounced in eight months.
The survey, conducted by the Istanbul Chamber of Industry (İSO), highlights that the rates of moderation in output, new orders, purchasing, and inventories all softened in December.
This suggests that the sector is adapting to the challenges posed by subdued demand and rising input costs.
Despite the decrease in employment levels and the marked increase in input costs due to higher raw material prices and a weaker lira, the sector’s resilience is evident.
Manufacturers are scaling back their purchasing activity, inventory holdings, and employment in response to muted demand, demonstrating their ability to adapt to changing market conditions.
Andrew Harker, economics director at S&P Global Market Intelligence, commented that the latest PMI data provides hope for the sector in 2025. “If this momentum can be built on at the start of 2025, we could see the sector return to growth,” Harker said.
As Türkiye’s manufacturing sector navigates the complexities of the global economic landscape, its resilience and adaptability will be crucial in driving growth and stability.
The sector’s nearing stabilization is a positive sign for the Turkish economy, and its continued resilience will be closely watched in the coming months.
