Turkish manufacturing activity shrank at a slower pace in December, marking two consecutive months of improvement, signalling a slight moderation in operating conditions at the end of 2025, a business survey showed on Friday. The Istanbul Chamber of Industry Turkiye Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, rose to a 12-month high of 48.9 from 48.0 in November thanks to softer slowdowns in output, new orders, employment and purchasing activity.