The manufacturing confidence index rose in February

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The Central Bank of Turkey (CBRT) announced the industry and business trend statistics for February, as well as the Industrial Sector Confidence Index.

Accordingly, the RKGE ratio increased by 2.3 points to 109.3 in February compared to the previous month.

In the same period, the Seasonally Adjusted Industrial Sector Confidence Index (RKGE-MA) decreased 0.3 points to 108.7.

When the indicators of the prevalence of survey questions that make up the index were analyzed, it was found that the export order quantity, production volume, total employment expectations for the next three months, fixed capital investment expenditures, and total current order amount had a significant impact on the index.

In the past three months, the overall order quantity, the current finished goods inventory and the valuations regarding the overall trajectory have affected the index’s decline.

Looking at the evaluations of the past three months, it was noted that the trend in favor of those who reported increased production volumes and the amount of export orders weakened in February compared to the previous month.

In this period, the trend has shifted in favor of those who reported an increase in the amount of orders in the domestic market in favor of those who expected a decrease.

On the other hand, valuations indicate that total current orders and finished goods inventories are below seasonal norm.

PPI forecast down to 16.4%

In evaluations for the next three months, the trend strengthened in favor of those expecting an increase in the volume of production, the quantity of export orders and the volume of domestic market orders in February of the previous month.

It was noted that the upward expectations regarding employment in the next three months and fixed capital investment expenditures in the next twelve months had been strengthened.

While the trend strengthened in favor of those who reported an increase in average unit costs in the past three months, the trend weakened in favor of those expecting an increase in the next three months.

It was also noted that the bullish outlook for the sales price in the next three months has weakened.

By the end of the next twelve months, the annual producer price index decreased by 0.1 points compared to the previous month in February and reached 16.4 percent.

The percentage of those who said they were more optimistic about the general course of the industry they were in, in February compared to the previous month, decreased to 14 percent, and the percentage of those who said they were more pessimistic, decreased to 10.9 percent.

The rate of those who said they had the same opinion about the direction of the topic also increased to 75.1 percent.

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