Manufacturing PMI falls for third consecutive month

ISTANBUL

Türkiye's Purchasing Managers Index (PMI) for the manufacturing industry fell for the third consecutive month in July, posting 45.9 from a reading of 46.7 in June, the data provider S&P Global revealed on Aug. 1.

Any figure greater than 50 indicates overall improvement of the sector.

The index signaled a marked moderation in the health of the sector, and one that was the most pronounced since October 2024, the survey said, adding that business conditions have now eased in each of the past 16 months.

“A key theme of the latest survey was the muted nature of customer demand,” it noted.

“This resulted in a twenty-fifth consecutive monthly easing of new orders, with the latest moderation the most pronounced since March,” the survey highlighted.

Demand conditions in international markets were also subdued, and new export orders slowed again accordingly.

Selling prices meanwhile rose at a slightly faster pace than in June, albeit one that was relatively modest as some firms lowered charges amid efforts to secure sales.

There was little in the way of positive news from the latest manufacturing PMI as the challenges for firms in securing new orders percolated through the sector, commented Andrew Harker, economics director at S&P Global Market Intelligence.

“Manufacturers will be hoping to see some pick-up in demand conditions as the second half of the year progresses,” he said.