SAMEKS Composite Index pointed out that the positive growth process in the Turkish economy continues.
SAMEKS, which pointed to the lively outlook of economic activity in the fourth quarter by exceeding the reference value of 50 in October and November, continued its increase in December and closed 2022 at a positive level.
The SAMEKS Composite Index, which left the last quarter of the year behind with an average of 53.4 points, pointed out that the positive growth process in the Turkish economy continues.
In the study of SAMEKS, it was stated:
“In December 2022, the seasonal and calendar adjusted SAMEKS Composite Index increased by 0.2 points compared to the previous month and rose to 53.3. The fact that the Service Sector SAMEKS Index increased by 2.7 points to 53.6 points compared to the previous month played a decisive role in this development. The Industry Sector SAMEKS Index, which was above the reference value with 52.6 points despite a decrease of 6.3 points compared to the previous month, continued its upward trend.
In this period, input purchases related to the service sector continued to be strong and the business volume sub-index started to increase again. In the industrial sector, the decrease in new orders compared to the previous month caused a loss of momentum in input purchases and production. As a result of these developments, the seasonal and calendar adjusted SAMEKS Composite Index, which was realized as 53.3 with an increase of 0.2 points compared to the previous month, continued its course above the reference value of 50 throughout the fourth quarter and pointed out that the buoyancy in economic activity continues. 30 35 40 45 50 55 60 65 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Composite Index 30 35 40 45 50 55 60 65 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Industry Index Service Index Industry Sector SAMEKS Index Seasonal and calendar effect The adjusted Industrial Sector SAMEKS Index decreased by 6.3 points to 52.6 in December 2022 compared to the previous month. In this period, the main factor of the loss of momentum in the index was the decrease in new orders by 11.7 points to 49.0 points compared to the previous month.
Due to the decrease in new orders, the input purchases sub-index lost its momentum by 2.7 points compared to the previous month, but remained at the level of 65.0 points, maintaining its positive outlook. Depending on these developments, although it decreased by 3.8 points compared to the previous month to 53.7, the course of the production sub-index above the reference value continued in the last month of the year as well. The final goods stock sub-index, which decreased by 6.5 points to 42.2 points compared to the previous month, displayed a negative outlook, while the delivery time sub-index of suppliers, which decreased by 3.6 points to 50.0 points, followed a horizontal course with the previous period. The employment sub-index, which increased by 2.8 points to 53.7 points, shows that the demand for labor in the industrial sector continues to increase.
Thus, with 52.6 points, the Industrial Sector SAMEKS Index carried its course above the reference value of 50 for the 17th month in a row, while the expansion in the sector spread throughout the fourth quarter of the year. Service Sector SAMEKS Index Seasonally and calendar adjusted Service Sector SAMEKS Index increased by 2.7 points to 53.6 in December 2022 compared to the previous month. In this period, the business volume sub-index increased by 4.1 points compared to the previous month and rose to the level of 50.1 points, and was again above the reference value after a 6-month hiatus. Purchases continued to increase throughout the service sector and the related sub-index increased by 1.6 points compared to the previous month and reached 66.1. The final goods stock sub-index, which increased by 8.0 points to 53.6 points, and the suppliers’ delivery time sub-index, which increased by 1.4 points to the level of 50.4, pointed to a positive course in the goods supplies and stocks of companies. The employment sub-index, on the other hand, decreased by 2.7 points compared to the previous month and regressed to 48.8 points, pointing out that there was a loss of labor force in the service sector in December.
As a result of these developments, the Service Sector SAMEKS Index rose to 53.6 and maintained its positive outlook in December. COMMENT: SAMEKS, which pointed to the lively outlook of economic activity in the fourth quarter by exceeding the reference value of 50 in October and November, continued to increase in December and closed 2022 at a positive level.
In this period, it is noteworthy that the business volume related to the service sector increased after 6 months; Although it lost momentum compared to the previous month, production in the industrial sector continued to increase. Thus, the SAMEKS Composite Index, which left the last quarter of the year behind with an average of 53.4 points, pointed out that the positive growth process in the Turkish economy continues.”
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