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

• 01.04.2026
• News

Istanbul Chamber of Industry Türkiye Manufacturing PMI dropped to 47.9 in March, its lowest in five months. The reading signalled a modest easing of business conditions at the end of the opening quarter of the year. The health of the sector has now softened in each month throughout the past two years. March data pointed to sharper slowdowns in both total new business and new export orders. 

According to the Istanbul Chamber of Industry’s Türkiye Sector PMI data for March, new orders slowed in all 10 sectors covered by the survey, which is the first time it has been observed since July of last year. The sector with the sharpest loss of momentum was land and sea vehicles sector, where new orders fell at the highest rate since April 2020. The mildest deterioration, however, occurred in the chemicals, plastics, and rubber sector. New export orders also declined across all sectors. The only sector to increase its output volume in March was the chemicals, plastics, and rubber products sector, 

The March 2026 period of Istanbul Chamber of Industry (ISO) Türkiye Manufacturing PMI (Purchasing Managers’ Index) survey, which is the fastest and reliable reference accepted in manufacturing industry performance of the economic growth was announced. According to the results of the survey where any figure greater than 50.0 indicates overall improvement of the sector, the headline PMI dropped to 47.9 in March, its lowest in five months after hitting a 22-month high of 49.3 in February. The reading signalled a modest easing of business conditions at the end of the opening quarter of the year. The health of the sector has now softened in each month throughout the past two years. March data pointed to sharper slowdowns in both total new business and new export orders. in some cases linked to the impact on market demand of the uncertainty caused by the war in the Middle East. Price increases also reportedly contributed to the slowdown in new orders. Muted demand and price pressures combined to result in a further moderation of manufacturing production, with output scaled back to the largest extent since last November. The aforementioned price pressures were often linked by panellists to the war in the Middle East, which led to higher costs for freight, fuel and oil. Higher raw material prices were also reported. As a result, input costs and output prices increased at the sharpest rates in 23 and 25 months respectively. Suppliers' lead times were also impacted by the war, through material shortages and disruption to transportation. Lead times lengthened to the largest degree since August 2024. With new orders easing and output requirements softening, manufacturers in Türkiye scaled back employment to the largest extent in six months and also lowered purchasing activity and inventory holdings.

Commenting on the Istanbul Chamber of Industry Türkiye Manufacturing PMI survey data, Andrew Harker, Economics Director at S&P Global Market Intelligence, said: "The Turkish manufacturing sector suffered something of a setback in March, after conditions had looked to be on the path to becoming more favourable in February. The more pronounced slowdown in the sector at the end of the first quarter can largely be linked to the war in the Middle East, which acted to push up costs for inputs including fuel and oil, and also disrupted supply chains. Therefore, the nearterm fortunes of the sector will likely depend on how long the conflict persists and the ramifications for global price and supply conditions.”

New orders slow in 10 sectors according to ICI Türkiye Sector PMI

According to the Istanbul Chamber of Industry’s Türkiye Sector PMI data for March, new orders slowed in all 10 sectors covered by the survey, which is the first time it has been observed since July of last year. The sector with the sharpest loss of momentum was land and sea vehicles sector, where new orders fell at the highest rate since April 2020. The mildest deterioration, however, occurred in the chemicals, plastics, and rubber sector. New export orders also declined across all sectors. The only sector to increase its output volume in March was the chemicals, plastics, and rubber products sector, which showed strong growth in two of the past three months. The sharpest contraction in output, however, occurred in the wood and paper products sector. Although it was the only sector with increased output, inflationary pressures intensified significantly in the chemicals, plastics, and rubber products sector, reaching the most pronounced level among the ten sectors covered in the report. Following the outbreak of war in the Middle East, input costs rose at the fastest pace in nearly two years, while selling prices recorded their sharpest increase since February 2022. Inflationary trends varied across other sectors. In March, price increases accelerated in some sectors while slowing in others. In the apparel and leather goods sector, where input cost inflation was the lowest, finished goods prices remained unchanged after two consecutive months of increases. Sales prices rose in all other sectors. By the end of the first quarter, lead times shortened in six sectors, while significant disruptions occurred in the supply chains of the chemicals, plastics, and rubber sectors. In this sector, lead times increased at the highest rate in over two years. The number of sectors with increased staffing numbers stood at two in March after five in February. Staffing numbers increased in the electrical and electronic products and machinery and metal products sectors, while decreased in all other sectors.

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