Demand conditions in key export markets for Turkish manufacturers have improved at their fastest pace since May 2024, supported by robust activity in the U.S. and ongoing recovery in the Middle East, a survey showed Tuesday.
The Türkiye Manufacturing Export Climate Index, compiled by the Istanbul Chamber of Industry (ISO) and S&P Global, rose to 52.7 in August from 52.2 in July, marking the fourth consecutive month of increase.
Readings above 50 indicate improving business conditions in the main export destinations, while those below point to deterioration.
The index is calculated by weighting manufacturing Purchasing Managers' Index indices from national PMI surveys according to each market's share of Türkiye's manufacturing exports.
Andrew Harker, economics director at S&P Global Market Intelligence, said global economic growth appeared to be strengthening as the third quarter progressed, potentially supporting Turkish manufacturers' overseas business volumes.
