Turkish PMI shows slight recovery in February

The latest data on the Purchasing Managers' Index (PMI) for the manufacturing sector in Turkey points 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. Values below 50 continue to signal a deterioration in the business situation – although this was only marginal in recent months.

Andrew Harker, Economics Director at S&P Global Market Intelligence, said the latest figures provided "some grounds for optimism." New orders had stabilized, with several companies reporting an improvement in customer demand. Accordingly, the decline in production also slowed, which could point to a revival in official industrial data in the coming months.

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

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

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