Real Sector Confidence Index falls by 1.1 points to 102.4 in May

The Central Bank of the Republic of Turkey has announced the Economic Outlook Statistics and Real Sector Confidence Index for May.

The results of the Economic Outlook Survey were obtained and evaluated by weighting and aggregating the responses of 1,777 workplaces operating in the manufacturing industry.

Accordingly, the Real Sector Confidence Index fell by 1.1 points in May compared to the previous month, dropping to the 102.4 level. In the same period, the seasonally adjusted real sector confidence index decreased by 0.7 points to 105.4.

When examining the diffusion indices of the survey questions that make up the index, evaluations regarding the export order quantity for the next 3 months, total order quantity for the last 3 months, current finished goods stock, fixed capital investment expenditure, production volume for the next 3 months, and current total order quantity all contributed to the decline in the index.

In the evaluations for the last 3 months, the trend in favor of those reporting an increase in production volume strengthened compared to the previous month, while the trend in favor of those reporting a decrease in domestic market order quantity and those reporting an increase in export order quantity weakened compared to the previous month.

Evaluations that current total orders are below seasonal norms and that the level of current finished goods stocks is above seasonal norms strengthened compared to the previous month.

In the evaluations for the next 3 months, expectations for an increase in production volume, export order quantity, and domestic market order quantity weakened, as did expectations for an increase in employment over the next 3 months, while it was observed that expectations for an increase in fixed capital investment expenditure over the next 12 months weakened compared to the previous month, and expectations for an increase in employment over the next 3 months strengthened.

News Source: AA