ICI Released Türkiye Manufacturing PMI and Türkiye Sector PMI November 2025 Report

• 01.12.2025
• News

The Istanbul Chamber of Industry Türkiye Manufacturing PMI posted 48.0 in November. Although still below the 50.0 nochange mark, the latest slowdown was the least pronounced since February. In line with the headline figure, manufacturing production eased at the softest pace in nine months during November. Nonetheless, output was still scaled back as firms responded to lower new orders.

The Istanbul Chamber of Industry's Türkiye Sector PMI November 2025 report showed some signs of improvement. Following October, when no sector was able to increase output, three sectors returned to growth zone in November. The strongest improvement was seen in the electrical and electronic products sector, which grew for the first time in the last four months. More sectors increased their both new orders and staffing numbers. Input cost inflation recorded a general decline. 

Istanbul Chamber of Industry (ICI) released the November 2025 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 rose to 48.0 in November from 46.5 in October. Although still below the 50.0 nochange mark and therefore signalling an easing of business conditions during the month, the latest slowdown was the least pronounced since February. In line with the headline figure, manufacturing production eased at the softest pace in nine months during November. Nonetheless, output was still scaled back as firms responded to lower new orders. New orders softened amid demand weakness, albeit with the pace of moderation the slowest since August. The rate of slowdown in new export orders intensified, however, with some firms highlighting a competitive international pricing environment.

Efforts to compete on price meant that manufacturers increased their selling prices at only a modest pace in November, with the rate of inflation the weakest in the year-to-date. Firms were helped in their efforts to limit charge inflation by a slower rise in input costs.

Here too, the latest increase was the slowest for almost a year. For increased input prices, panellists generally linked this to higher raw material costs. In line with softer slowdowns in output and new orders, employment was scaled back only slightly in November and to the least extent since March. Purchasing activity was reduced markedly, however, with sharper moderations in stocks of both purchases and finished goods also registered. Meanwhile, suppliers' delivery times lengthened slightly following a fractional improvement in vendor performance during October.

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

"A more muted inflationary environment provided a boost to the Turkish manufacturing sector in November. Input costs and selling prices increased at the slowest rates in 2025 so far, and this coincided with less pronounced moderations across key variables such as output, new orders and employment, the latter of which neared stabilisation. The data provide hope that the turn of the year will see improving fortunes for manufacturers.”

Three of the ten sectors return to growth zone

The Istanbul Chamber of Industry's Türkiye Sector PMI November 2025 report showed some signs of improvement. Following October, when no sector was able to increase output, three sectors returned to growth zone in November. The strongest improvement was seen in the electrical and electronic products sector, which grew for the first time in the last four months. Non-metallic mineral products and wood and paper products sectors also increased their output volume, while the sharpest contraction occurred in the textile sector. Parallel to developments in output, 3 sectors increased new orders in November, with the electrical and electronic products sector again leading the way. New orders in this sector increased at the highest rate since January 2023. The sharpest slowdown in new orders was seen in textile products, which continued to face challenging demand conditions. Textile companies struggled with new export orders, but some improvements were observed in other sectors. The fastest increase in new orders from abroad was in wood and paper products. In November, companies benefited from the slowdown in cost inflation.

Input prices showed a more limited increase compared to October across all ten sectors. The fastest increase was in machinery and metal products, while the lowest inflation was recorded in clothing and leather products. Manufacturers generally tried to pass on their cost savings to customers by increasing sales prices at a lower rate or by offering direct discounts.

Finished product prices declined in the textiles and non-metallic mineral products sectors. The sharpest price increase was recorded in the base metal industry. Five sectors increased their workforce in November. Thus, the number of sectors experiencing employment growth reached its highest level in the past year and a half. As with output and new orders, the fastest increase in employment was in the electrical and electronic products. At the other end of the spectrum, textile products experienced the most significant employment loss since the survey began in January 2016. Finally, purchasing activities and stock levels also increased more broadly compared to October.

You can find attached the Istanbul Chamber of Industry Türkiye Manufacturing PMI and Sector PMI November 2025 reports.