Turkey’s manufacturing industry confidence index fell to 101 in March 2026, retreating from an eleven-month high of 104.1 in February. This marked the lowest level since December, driven by weaker forward-looking indicators, particularly expectations for output over the next three months (102.6 vs 120.4 in February). Export order expectations also declined to 107.8 from 115.6, while anticipated total orders eased to 102.1 from 103.9, pointing to a moderation in demand prospects. Labor market sentiment softened slightly, with employment expectations edging down to 102.6 from 103.5, and views on fixed investment expenditure also weakened (107.8 vs 108.5). Meanwhile, assessments of current conditions were broadly stable, as stocks of finished goods held near 100.7 and overall sentiment toward the general business situation remained subdued at 94.1.