The SAMEKS Composite Index decreased 0.4 points from the previous month and fell to 51.1. The following statement was made on the subject:
“In March 2021, the SAMEKS composite index adjusted for seasonality and calendar decreased 0.4 points compared to the previous month and decreased to 51.1. The fall of the service sector index to 50.6 with a decrease of 1.1 points compared to the previous month was effective in this decrease observed in the index, while the industrial sector index decreased 0.9 points with respect to the month earlier and dropped to the 50.8 level.
Although the slowdown in business volume due to the slowdown in purchases of inputs was effective in the loss of momentum in the services sector index, it was observed that production exceeded the reference value despite the decrease in new orders in the industry. Thus, the seasonally adjusted and seasonally adjusted SAMEKS Composite Index, which fell 0.4 points to 51.1, continued its course above the reference value of 50, despite losing momentum compared to the previous month, indicating that the dynamic outlook of the real sector continues.
Industrial sector SAMEKS index
The SAMEKS index for the industrial sector adjusted for seasonality and calendar decreased to 50.8 in March 2021, decreasing 0.9 points compared to the previous month. The decrease in new orders by 0.3 points to 47.6 compared to the previous month was the determining factor in the loss of dynamism in the industrial sector in this period.
Despite this evolution, the sector’s production increased rapidly and reached 53.0, an increase of 4.2 points compared to the previous month.
Purchases decreased 5.9 points in March, however, the sub-index continued to increase, maintaining its course above the reference value with 52.9 points. The final goods inventories sub-index, which decreased by 4.3 points compared to the previous month, was made at 43.2. During this period, the employment sub-index remained above the reference value at 51.9, but lost momentum significantly, decreasing by 10.5 points.
Thus, the SAMEKS Industry Sector Index, which remained above the reference value with 50.8 points despite losing 0.9 dynamism compared to the previous month, indicates that the wheels of the industry continued to turn throughout the first quarter of the year.
Service sector SAMEKS Index
The SAMEKS Service Sector Index adjusted for seasonality and calendar decreased to 50.6 in March 2021, a decrease of 1.1 points compared to the previous month. Turnover in the services sector decreased 3.4 points compared to the previous month to 42.4 and continued to lose momentum after the recovery in January. Consequently, the purchases of inputs also fell by 1.9 points to 60.1, which supports the stable picture of the sector.
The sub-index of supplier delivery times, which increased by 4.4 points compared to the previous month and exceeded the reference value by 53.4 points, indicated that the negative effects of the pandemic conditions of the previous month in the processes of supply of companies.
The employment sub-index, which fell 2.3 points to 54.9, showed that despite the slowdown in labor demand in the services sector, its positive course continues. Thus, the SAMEKS Services Sector Index, which fell 1.1 points to 50.6 compared to the previous month, continued its course above the reference value of 50, which increased in November 2020, in this period.
The seasonally and calendar-adjusted SAMEKS composite index, which was 51.1 in March, reached its fourth consecutive month above the reference value of 50. Thus, it closed the first quarter of the year with an average of 52.6 Sameks, has noted that the continued positive growth of Turkey’s economy. On the other hand, the slowdown in the pace of growth in both the industrial and services sectors in March compared to the previous month indicates that the recovery in the real sector lost momentum. In said period, the decrease observed in the Capacity Utilization of the Manufacturing Industry announced by the Central Bank of the Republic of Turkey confirms the loss of momentum in the SAMEKS Industry Sector Index and the increases in the Sector Confidence Index. Real confirm the positive expectations of companies. for the next period.
The foreign trade deficit increased in February
Confidence in the economy will be a shame when it is at the top of three years.
TL’s depreciation accelerated. Causes and possible consequences? | Güldem Atabay and Semih Sakallı