Türkiye's manufacturing sector's activity contracted in October at the fastest pace since June as declines in output and new orders weighed on performance, a closely watched business survey showed on Monday.
The headline Istanbul Chamber of Industry (ISO) Türkiye Manufacturing PMI, compiled by S&P Global, fell to 47.3 in October from 47.9 in September.
The 50 mark separates growth from contraction.
Output was cut for a fifth straight month and at the fastest pace in four months, while new orders fell for a 40th consecutive month. The decline in new business was the sharpest since July, with export orders also continuing to soften.
Input costs and output prices both rose, although their inflation rates eased from September. S&P Global said 29% of respondents reported higher input prices, citing oil, raw materials and exchange rate weakness.
Manufacturers still expected output to rise over the coming year, but confidence slipped to a three-month low.
"The economic environment facing Turkish manufacturers is such that they continued to find it difficult to generate growth as the final quarter of the year began," said Andrew Harker, economics director at S&P Global Market Intelligence.
"There was some better news on employment, which eased only modestly, and this should hopefully help to limit the extent to which output moderates in the months ahead," he added.
