Manufacturing PMI December 2025: The Sector Shows Signs of Recovery

Overview of the Istanbul Chamber of Commerce PMI Report

Released in December 2025, the Istanbul Chamber of Commerce (ICC) Turkey Manufacturing PMI (Purchasing Managers' Index) survey results are considered an important indicator of economic growth. This survey provides a critical reference point for investors and the business community by revealing the performance of the manufacturing sector.

Current Status of the PMI Index

In December, the PMI index, while remaining below the threshold value of 50.0, increased from the previous month's level of 48.0 to 48.9, marking a second consecutive rise. This situation indicates that the deterioration of operating conditions in the sector has been limited and reveals the mildest contractions experienced in the last 12 months.

Order and Production Data

The survey results include information highlighting some firms' observations of improvements in customer demand. However, the contraction in new orders has dropped to its lowest level since March 2024, continuing to have a negative impact on production. Although production contracted for the 21st month in December, the rate of contraction was quite moderate.

Employment and Price Conditions

While input and finished product stocks have significantly decreased, input costs and finished product prices have regained momentum, returning to the lowest rate observed last year. Manufacturers have raised their sales prices at the highest rate in the last eight months due to the increase in raw material costs.

Sectoral Analysis

The ICC Turkey Sectoral PMI report shows that only three of the ten sectors surveyed experienced an increase in production. The food products sector has moved back into the growth zone, while production in electrical and electronic products continues to rise. However, the most severe contraction has been observed in the production of machinery and metal products.

Comments on the Economic Future

Commenting on the Istanbul Chamber of Commerce PMI data, Andrew Harker, Economics Director at S&P Global Market Intelligence, emphasized that the headline index reaching its highest level in December has set a positive start for the manufacturing sector in 2026. Survey participants noted that improvements in customer demand by the end of 2025 slowed the contractions in production and employment areas.