The only good news in the economy: SAMEKS February business survey

Data released on March 1st, ISO-Markit manufacturing PMI and BloombergHT pointed to a decline in consumer confidence. In February, as measured by ITO, retail prices in Istanbul increased by 4.44% on a monthly basis, while wholesale prices increased by 3.38%. Annual ITO consumer inflation was 55.32%.

For some reason, TİM has not disclosed its March temporary issuance data yet. He emphasized that it would not be easy to close the current account deficit, as the January foreign trade deficit, which was announced yesterday, exceeded $10 billion.

Among such weak data, the SAMEKS Composite Index (which is similar to the composite PMI) compiled by MUSIAD increased by 2.5 points compared to the previous month and rose to 52.7. In other words, according to SAMEKS, expansion on the production front of the economy continued in February, gaining strength.

The details of the survey are as follows:

While the industrial sector index, which increased by 3.5 points compared to the previous month and rose to 56.6, played a decisive role in this acceleration observed in the index, the service sector index increased by 1.4 points to 51.1 and remained above the reference value after 2 months. .

In this period, with the continued positive outlook in new orders, an increase in production was observed in the industrial sector, while the high level of input purchases in the service sector was the determinant of the acceleration in the sector in general.

As a result of these developments, the seasonal and calendar adjusted SAMEKS Composite Index realized as 52.7; maintained its positive outlook in this period as well, pointing to the vitality of economic activity in February.

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