In April 2022, the seasonal and calendar adjusted SAMEKS Composite Index decreased by 0.7 points compared to the previous month and regressed to 53.7.

In this loss of momentum observed in the index, the service sector index, which decreased to 53.0 with a decrease of 1.8 points compared to the previous month, played a decisive role; the industrial sector index, on the other hand, increased by 2.1 points compared to the previous month to 54.2, and was at the highest level of the last 5 months.

In this period, although the input purchases for the services sector continued to be strong, a relative loss of momentum was observed compared to the previous month as the business volume declined to 50.0 points. In the industrial sector, a noticeable increase in production was recorded compared to the previous month, with the increase in new orders.

As a result of these developments, the seasonal and calendar adjusted SAMEKS Composite Index realized as 53.7; It was above the reference value of 50 for the 4th month in a row, pointing out that the economic activity continued in the second quarter of the year.

Industry Sector SAMEKS Index

Seasonally and calendar adjusted Industry Sector SAMEKS Index increased by 2.1 points compared to the previous month and reached 54.2 in April 2022.

The increase in new orders to 52.4, with an increase of 2.4 points compared to the previous month, played a decisive role in the acceleration in the sector in general.

The production sub-index, which increased by 7.7 points compared to the previous month due to the acceleration in new orders, rose to 52.8 points, presenting a positive outlook.

Input purchases, on the other hand, remained above the reference value with 58.3 points in April, despite a sharp decrease of 7.6 points compared to the previous month.

Despite the loss of momentum in purchases, the increase in production led to a decrease in the stock of finished goods, and the said sub-index decreased by 0.6 points compared to the previous month and became 49.8; The supplier's delivery time sub-index, which stood at 57.7, pointed to the positive outlook of companies' supply of goods and services.

The increase in production observed throughout the sector had a positive impact on labor demand and the employment sub-index increased by 4.2 points compared to the previous month and rose to 52.6.

Thus, the Industry Sector SAMEKS Index, which carried its course above 50 reference values ​​for the 9th month in a row, reached the highest level of the last 5 months with 54.2 points.

Service Sector SAMEKS Index

Seasonally and calendar adjusted Service Sector SAMEKS Index decreased by 1.8 points to 53.0 in April 2022 compared to the previous month.

In this period, input purchases related to the sector decreased by 0.8 points to 71.5 and maintained its strong course in this period as well, despite the relative loss of momentum.

Parallel to the loss of momentum in input purchases, the business volume sub-index, which decreased by 0.3 points compared to the previous month, declined to 50.0 and presented a stable image regarding the services sector.

The said stagnant image also reflected negatively on labor demand, and the employment sub-index decreased by 4.4 points compared to the previous month and regressed to 47.7.

In April, the final goods stock sub-index decreased by 3.4 points compared to the previous month and regressed to 44.3 points, while the suppliers' delivery time sub-index decreased by 3.2 points to 49.2, indicating that there were disruptions in the goods and service supply processes of the companies in this period. .

The Service Sector SAMEKS Index, which declined to the level of 53.0 as a result of these developments, continued its positive course above the reference value, however, it showed that the rate of increase of the index decreased compared to the previous month.

COMMENT:

SAMEKS Composite Index, which increased during the first quarter of the year and left this period behind with an average of 52.9 points, made a positive start to the second quarter of the year with its level of 53.7 points in April. The Industrial Sector Index, which reached its highest level in the last 5 months in this period, pointed out that the wheels in manufacturing continued to turn at an accelerating pace, while the Service Sector Index continued its course above the reference value of 50, although it lost momentum compared to the previous month, confirming the positive outlook for economic activity.

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