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

• 02.02.2026
• News

Istanbul Chamber of Industry Türkiye Manufacturing PMI fell to 48.1 in January from 48.9 in December. remaining below the 50.0 threshold that indicates growth for the 22nd consecutive month, signaling a moderate deterioration in the overall performance of the manufacturing sector on a monthly basis. Muted demand conditions were evident as new orders eased further, the panel said. And new export orders slowed more significantly than total new business.

According to the Istanbul Chamber of Industry Türkiye Sector PMI survey, five of the ten sectors expanded their output volumes in January. This brought the number of sectors experiencing output growth to its highest level since May 2023. The strongest growth was recorded in the chemical, plastic, and rubber products sector. Output in this sector recovered after a one-year break and increased at its fastest pace since October 2020. Textile output also recorded its first increase in the last 31 months. 

Istanbul Chamber of Industry (ICI) released the January 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 results of the survey where any figure greater than 50.0 indicates overall improvement of the sector, the headline PMI fell to 48.1 in January from 48.9 in December, 

remaining below the 50.0 threshold that indicates growth for the 22nd consecutive month, signaling a moderate deterioration in the overall performance of the manufacturing sector on a monthly basis.

Muted demand conditions were evident as new orders eased further, the panel said. And new export orders slowed more significantly than total new business. The decline accelerated compared to December but remained moderate. New export orders also lost momentum, signalling a more pronounced contraction relative to total new orders. Manufacturers reduced production volumes in response to the weakening of new orders. Thus, the contraction in output reached its 22nd consecutive month. January's low was measured at a higher rate compared to December. At the beginning of the year, firms reduced their employment and purchasing activities, as well as their input and finished goods stocks. Input cost inflation surged sharply in January, making up the fastest pace of increase since April 2024. Respondents cited rising raw material prices, particularly for metals, as a key driver. With the increase in costs being passed on to customers, finished goods prices hit 21-month high. Selling price inflation remained above its historical average.

Commenting on the Istanbul Chamber of Industry Türkiye Manufacturing PMI survey data, Andrew Harker, Economics Director at S&P Global Market Intelligence, said:

“Turkish manufacturing sector entered 2026 with a similar outlook to the end of last year, as weak demand and challenging conditions led to a moderate slowdown in new orders and output. Inflationary pressures intensified, maintaining their recent trend, pointing to strong increases in both input costs and selling prices. Firms were hopeful for some easing of these pressures in the coming months.”

According to the ICI Türkiye Sector PMI, output volume expands in five out of ten sectors

The Istanbul Chamber of Industry Türkiye Sector PMI report also pointed to more widespread growth across Turkish manufacturing sectors. Half of the sectors increased their output. However, a weaker picture emerged for new orders. On the other hand, input cost inflation led to increases in finished goods prices across all sectors. Five of the 10 sectors expanded their output volumes in January. This brought the number of sectors experiencing output growth to its highest level since May 2023. The strongest growth was recorded in the chemical, plastic, and rubber products sector. Output in this sector recovered after a one-year break and increased at its fastest pace since October 2020. Textile output also recorded its first increase in the last 31 months. The sharpest decline in output was seen in the non-metallic mineral products sector, which was at its highest rate in the last four months. The improvement in new orders was limited to chemical, plastic, and rubber products, while deterioration was seen in other sectors. As with output, the most significant weakening in new orders occurred in the non-metallic mineral products sector. Despite the general stagnation in total new orders, new export orders increased in five out of ten sectors. The sector with the fastest improvement in foreign orders was clothing and leather products, with the increase reaching its highest level in the last 20 months. 

Among the four sectors that reported an increase in the number of employees in January, the strongest expansion was in food products. The rate of hiring in this sector reached its highest level since March 2025. Due to the difficulties experienced in the non-metallic mineral products sector, the first employment loss in the last three months occurred. This decline was recorded at a high rate since October 2023. Cost pressures intensified across all sectors in the first month of this year. As in December, the sharpest rise in input prices in January was recorded in the electrical and electronic products sector. The most moderate increase was seen in machinery and metal products, but even in this sector, high inflation was notable. With the acceleration in input cost increases, all sectors raised their sales prices for the first time in the last three months. As with costs, the highest inflation in finished goods prices was measured in the electrical and electronic products sector. A relatively moderate increase was observed in the prices of the clothing and leather products sector.

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