Turkish PMI Shows a Slight Recovery in February

The latest data on the Purchasing Managers' Index (PMI) for Turkey's manufacturing sector point to a slight stabilization. The index, compiled by the Istanbul Chamber of Industry (ISO) and produced by S&P Global Market Intelligence, rose to 49.3 points in February from 48.1 in January. Readings below 50 continue to signal a deterioration in business conditions—though this decline has recently been only marginal.

Andrew Harker, Economics Director at S&P Global Market Intelligence, stated that the current figures provide “some grounds for optimism.” New orders had begun to stabilize, with several companies reporting improving customer demand. Accordingly, the decline in production also slowed, which could point to a pickup in official industrial data in the coming months.

At the same time, inflationary pressure remains a significant drag. Costs rose in February at the fastest pace in nearly two years. This dampens the positive signals and calls for caution, according to Harker.

According to S&P, the slowdown in the manufacturing sector in February was the smallest since April 2024, when the current phase of economic cooling began.

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