March Sees Rise in Real Sector Confidence Index
The Central Bank of the Republic of Turkey has recently announced the Economic Tendency Statistics and Real Sector Confidence Index for the month of March. The results of the Economic Tendency Survey were compiled from responses of 1731 workplaces in the manufacturing industry.
According to the report, the Real Sector Confidence Index saw an increase of 2.9 points in March compared to the previous month, reaching 104.4. The seasonally adjusted real sector confidence index also increased by 1.5 points, reaching 103.5.
Analysis of the survey questions revealed that evaluations regarding production volume, export order amount, total order amount, general trend, and total employment in the next three months showed signs of increase. However, current total order amount, current finished goods stock, and fixed capital investment expenditure evaluations saw a decrease.
In terms of expectations for the next three months, there was a positive trend towards increased production volume, export order amount, and domestic market order amount. While expectations for fixed capital investment expenditures in the next twelve months weakened, expectations for employment in the next three months strengthened.
Additionally, the Producer Price Index (PPI) expectation decreased to 54.5 percent, with trends showing an increase in average unit costs but a decrease in sales price expectations. The annual PPI expectation for the end of the next twelve months also decreased slightly compared to the previous month.
Overall, the report indicated a shift towards optimism in the industry, with more respondents expressing optimism for the future compared to the previous month. With strengthening expectations for production and employment, the Real Sector Confidence Index reflects a positive outlook for the coming months in Turkey’s manufacturing industry.
