Manufacturing PMI Reaches Highest Level in Recent Period
Ömer Karadeniz, Chairman of the Board of Directors of the Federation of Plastics Industrialists (PLASFED), commented on Turkey's first-quarter 2026 growth data for the economy and the manufacturing industry PMI data released on the same day.
PLASFED Chairman Ömer Karadeniz commented on Turkey's economic growth data for the first quarter of 2026 and manufacturing PMI figures released on the same day.
"MANUFACTURING IS THE FLAGSHIP OF THE ECONOMY"
Noting that Turkey's economy grew by 2.5% in the first quarter of 2026, which is positive in terms of the overall economic outlook, Karadeniz drew attention to contraction in the manufacturing sector:
"The 2.5% economic growth points to a resilient structure. However, the 0.8% contraction in the manufacturing sector is an important indicator that warrants careful assessment.
Manufacturing is not merely a sector; it is the flagship of the economy. It lies at the center of production, exports, employment and technological transformation. For this reason, every slowdown in manufacturing directly affects medium and long-term growth."
Karadeniz also emphasized that manufacturers are struggling with high financing costs, difficulties in accessing credit, rising energy expenses and slowing global demand.
MANUFACTURING PMI ROSE TO 49.8
Commenting on Turkey's Manufacturing PMI data announced by the Istanbul Chamber of Industry, Karadeniz stated that the increase in the index gives positive signals.
The PMI index, which stood at 45.7 in April, rose to 49.8 in May, reaching its highest level since March 2024.
Noting that the index remaining just below the 50 threshold indicates continued contraction, Karadeniz said that despite this, the deterioration in operating conditions has slowed significantly and recovery momentum in production has strengthened.
He also highlighted that export orders showing an increase for the first time in approximately 21 months represents an important positive development for the sector.
"AS MANUFACTURING STRENGTHENS, PRODUCTION AND EXPORTS GROW"
Emphasizing the need to strengthen manufacturing, Karadeniz made the following assessment:
"Facilitating access to investment and working capital, increasing affordable financing opportunities and reducing energy costs are of great importance. As manufacturing strengthens, production increases; as production increases, exports and employment grow."
Referring to the 9.5% growth in the information and communication sector, Karadeniz highlighted the importance of technology investments and said that manufacturing and technology must be addressed together for sustainable growth.
"WHEN MANUFACTURING IS STRONG, THE ECONOMY IS STRONG"
PLASFED Chairman Ömer Karadeniz concluded his statement with the following words:
"Turkey's path to sustainable growth, high value-added production and achieving global competitiveness goals runs through strengthening manufacturing. When manufacturing is strong, the economy grows; when the economy grows, Turkey grows stronger."
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