The Istanbul Chamber of Industry (ISO) Turkey Manufacturing Export Climate Index, which measures the contributions of the country’s manufacturing industry to primary export markets, declined from 49.0 to 48.5 in October, compared to the previous month, below the threshold of 50.0 for the third consecutive month.
Thus, the index has fallen to its lowest level this year. The weakness mainly stemmed from the ongoing slowdown in main export markets in Europe.
The U.S. remained in the expansion path while some Asian countries and the Middle East were other regions where the growth tendency was concentrated.
Production continued to rise significantly in Russia in October.
The growth remained at a high pace in India while Singapore, Indonesia, and the Philippines became prominent with a significant surge in production.