PLASFED (Plastic Industrialists' Federation) Chairman of the Board, Ömer Karadeniz, analyzed the latest macroeconomic indices released by the Turkish Statistical Institute (TÜİK) and the Istanbul Chamber of Industry (İSO).
While characterizing the Turkish economy's 2.5 percent GDP growth in the first quarter of 2026 as a resilient performance, Karadeniz pointed out structural risks hidden within the sub-sectors of industrial output. This analytical breakdown details the operational financing challenges and the production forecasts of the manufacturing sector using the inverted pyramid model.
Manufacturing PMI Recovers to its Highest Level in 26 Months
Despite the structural contraction observed in national industrial output accounts, forward-looking purchasing managers' sentiment reveals bottoming-out signals. The newly announced İSO Turkey Manufacturing PMI (Purchasing Managers' Index) demonstrated a noticeable recovery in manufacturing operating conditions:
Index Momentum: The manufacturing PMI rose sharply from 45.7 in April to 49.8 in May.
Historical Peak: With this rebound, the index reached its highest level recorded since March 2024.
Threshold Breakdown: Although staying just below the 50.0 mark indicates that the contraction phase has not entirely concluded, it proves that operational deterioration has significantly slowed.
Export Orders: New export orders expanded for the first time in approximately 21 months, serving as a vital driver for the industry's near-term revenue expectations.
"The 0.8% Contraction in Industry Demands Rigorous Structural Evaluation"
Addressing the clear divergence between national economic growth and manufacturing output velocity, PLASFED Chairman Ömer Karadeniz argued that state economic policies must shift weight toward strengthening real-sector productivity.
Karadeniz highlighted the exact operational constraints and structural remedies currently facing industrial producers:
The 2.5 percent growth of the Turkish economy in the first quarter of 2026 shows that the economy continues to exhibit resilience. However, when we analyze the details of these growth figures, the 0.8 percent contraction in the industrial sector is a significant development that needs careful evaluation. Industry is not just a sector; it is the flagship of the economy. Today, industrialists are battling substantial challenges such as high financing costs, credit access barriers, rising energy overheads, and slowing global demand. Facilitating access to investment and working capital, providing cost-effective financial instruments, and mitigating energy expenses remain highly critical.
Forging a Cohesive Development Model for Technology and Industry
Evaluating the 9.5 percent surge recorded by the information and communication sector in the first-quarter accounts, Karadeniz acknowledged digital spending as an essential multiplier. However, he reminded that robust macroeconomic foundations are only maintained by sovereign nations that actively back their service and technology ecosystems with heavy industrial manufacturing infrastructure. PLASFED called for an integrated development model that grows high-tech capabilities and conventional industry in tandem.
