ICI Released February 2026 ICI Türkiye Manufacturing PMI and Türkiye Sector PMI Report

• 02.03.2026
• News

The headline Istanbul Chamber of Industry Türkiye Manufacturing PMI posted 49.3 in February, up from 48.1 in January and signalling only a marginal monthly softening of business conditions in the manufacturing sector. The easing in the health of the sector was the weakest since April 2024, when the current period of moderation began. Feedbacks from the survey often pointed to signs of demand improving during February. This was particularly evident with regards to new orders.

ICI Türkiye Sector PMI February report showed that growth in output and new orders were only observed in the electrical and electronic products and food products sectors. Other sectors continued to see generally weak demand conditions. However, a more positive picture emerged on the employment front, as half of the sectors increased their staffing numbers. Cost pressures remained high across the manufacturing industry, and all sectors reported increases in finished goods prices.

Istanbul Chamber of Industry (ICI) released the February 2026 results of Türkiye Manufacturing PMI (Purchasing Managers’ Index) survey, which is recognized as the fastest and reliable indicator of the manufacturing industry’s performance in the economic growth. According to the survey results where any figure greater than 50.0 indicates overall improvement of the sector, the headline PMI posted 49.3 in February, up from 48.1 in January and signalling only a marginal monthly softening of business conditions in the manufacturing sector. The easing in the health of the sector was the weakest since April 2024, when the current period of moderation began. Feedbacks from the survey often pointed to signs of demand improving during February. This was particularly evident with regards to new orders, which slowed only marginally and to the joint-smallest extent in the current sequence of moderation stretching back to July 2023 (equal with that seen in March 2024). Where new orders eased, panellists sometimes linked this to the impact of higher prices. Input costs increased sharply in February, and at the fastest pace in almost two years. Panellists often reported that new price hikes by suppliers had led to higher raw material costs, while a rise in the minimum wage added to staff costs. In turn, the rate of output price inflation quickened for the third consecutive month and was the sharpest since April 2024. With new orders nearing stabilisation despite the impact of higher prices, manufacturers scaled back output, employment, purchasing activity and inventories to lesser extents than was the case at the start of the year. The slowdown in output was the least pronounced in 14 months.

Commenting on the Istanbul Chamber of Industry Türkiye Manufacturing PMI survey data, Andrew Harker, Economics Director at S&P Global Market Intelligence, said: "Although the latest manufacturing PMI data for Türkiye continued to signal moderating business conditions in the sector, there are definite reasons for optimism in the latest figures. New orders neared stabilisation, with a number of firms pointing to signs of improving customer demand. In turn, output slowed to a lesser extent, suggesting that we will see an upturn in official data in the coming months. "Inflationary pressures are an increasing headwind for firms, however, with costs rising at the fastest pace in almost two years in February, sounding a note of caution amid a generally more optimistic picture.”

According to the ICI Türkiye Sector PMI, only two sectors increase output

According to the Istanbul Chamber of Industry Türkiye Sector PMI February report, the number of sectors increasing their output in February fell to two after five in January. In the electrical and electronic products sector, which experienced the strongest expansion, the rate of output growth reached its highest level since June 2023. In food products, growth remained moderate despite accelerating compared to January. The most significant decline in output occurred in the base metal industry, which recorded its sharpest contraction in approximately one and a half years. As with output, growth in new orders was only observed in the electrical and electronic products and food products sectors. In contrast, the sharpest monthly decline in new orders occurred in land and sea vehicles sector. On the export side, the electrical and electronic products sector again showed the strongest performance, which was followed by textile products. 

Despite generally weak demand conditions, a more positive picture emerged on the employment front in February. While four sectors increased their staffing numbers in January, this number rose to five in February, reaching half of the sectors monitored. The electrical and electronic products and land and sea vehicles sectors shared the lead in the increase in the staffing numbers. The most significant employment loss occurred in clothing and leather products, which recorded its sharpest decline since January 2024. Input costs continued to rise sharply across all sectors, with the fastest increase in the electrical and electronic products, and the most moderate trend in textile products sector. Due to rising cost pressures, finished goods prices increased across all sectors in February, following January. As with input prices, the most limited increase in finished goods prices occurred in textile products. And the highest inflation was recorded in the wood and paper products sector. 

You can find attached the Istanbul Chamber of Industry Türkiye Manufacturing PMI and Sector PMI February 2026 reports.