Türkiye's manufacturing activity rose to a three-month high in August, a survey showed Tuesday, signaling a modest improvement in business conditions even as the sector remained in contraction.
The Istanbul Chamber of Industry (ISO) Türkiye Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 48.1 in August from 47.7 in July. A reading below 50 indicates contraction, while one above 50 signals growth.
Surveyed businesses said the war in the Middle East continued to weigh on the manufacturing sector midway through the third quarter, mainly through subdued demand and heightened market uncertainty.
Both total new orders and new export business declined in August, although the contractions were less pronounced than in July.
Manufacturers also cut production for a third consecutive month. The latest decline was modest and broadly in line with the pace recorded in July.
