Türkiye's manufacturing sector continued to contract in May, with the Istanbul Chamber of Industry Türkiye Manufacturing PMI at 47.2, slightly lower than April's 47.3. This marked the 14th consecutive month of decline, driven by weak demand and inflationary pressures. New orders fell for the 23rd month running, leading firms to reduce production, employment, and purchasing activity. Manufacturers also cut inventories of both raw materials and finished goods. Suppliers' delivery times shortened for the third month in a row due to muted demand. Input costs rose sharply, often linked to currency weakness, though inflationary pressures eased slightly from April's one-year high. Output price inflation slowed to its lowest rate so far this year as weaker demand limited firms' ability to raise charges. Economics Director at S&P Global Market Intelligence Andrew Harker said the sector faces ongoing challenges but noted some easing in inflation could offer relief for manufacturers hoping for a return to growth. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
