In May 2022, the seasonal and calendar adjusted SAMEKS Composite Index increased by 2.1 points compared to the previous month and rose to 56.3.

The Service Sector SAMEKS Index, which increased by 4.0 points to 57.4 with an increase compared to the previous month, played a decisive role in this development, while the Industry Sector SAMEKS Index, which increased by 0.7 points compared to the previous month and reached 55.0, also maintained its positive outlook.

In this period, it is observed that the business volume has gained significant mobility due to the rapid increase in input purchases for the service sector. In the industrial sector, the course of new orders and input purchases above the reference value continued to keep production positive, although the rate of increase decreased compared to the previous month.

The seasonal and calendar adjusted SAMEKS Composite Index, which stood at 56.3 as a result of these developments, was above the reference value of 50 for the 5th consecutive month, indicating that the buoyancy in economic activity continues.

Industry Sector SAMEKS Index

Seasonally and calendar adjusted Industry Sector SAMEKS Index increased by 0.7 points compared to the previous month and reached 55.0 in May 2022. In this period, the increase in input purchases by 15.5 points compared to the previous month to 73.7 was the determinant of the positive outlook observed throughout the sector. New orders for May, on the other hand, lost 2.0 points compared to the previous month and became 50.4. With the decrease in the rate of increase in new orders, the production sub-index for the industrial sector also decreased by 2.6 points compared to the previous month, however, it continued to be above the reference value with 50.1 points, presenting a positive outlook. With the course of new orders lagging behind the increase in input purchases, the stock of finished goods increased, and the said sub-index, which increased by 1.2 points compared to the previous month, rose to the level of 50.9. The supplier's delivery time sub-index, which stood at 56.3 points, pointed out that the positive outlook for companies' supply of goods and services continued. In parallel with the general positive outlook in the sector, the demand for labor continued to increase, and the employment sub-index, which increased by 0.6 points compared to the previous month, rose to 53.3 points. Thus, the Industry Sector SAMEKS Index, which carried its course above 50 reference values ​​for the 10th consecutive month, reached the highest level of the last 5 months with 55.0 points.

Service Sector SAMEKS Index

Seasonally and calendar adjusted Service Sector SAMEKS Index increased by 4.0 points compared to the previous month and reached 57.4 in May 2022. In this period, input purchases related to the sector increased by 6.6 points to the level of 78.9 and maintained its strong course in May as well. Parallel to the acceleration in input purchases, the business volume sub-index, which increased by 3.0 points compared to the previous month, rose to 54.0 and presented a positive image. Although the final goods stock sub-index increased by 1.2 points compared to the previous month, it remained below the reference value with 45.7 points, while the delivery time sub-index of suppliers, which fell below the reference value last month, increased to 53.1 points, presenting a positive outlook again. As a result of the positive developments in the sector, the employment sub-index increased by 4.0 points compared to the previous month and reached 51.7. The Service Sector SAMEKS Index, which rose to 57.4 as a result of these developments, continued its course above the reference value and presented positive signs for the sector in general.

COMMENT:

SAMEKS Composite Index, which was above the reference value of 50 throughout 2022, rose to the highest value of the last 16 months with the level of 56.3 points in May. In this period, the Service Sector SAMEKS Index also gained momentum compared to the previous month and carried the increasing trend in the business volume in the sector for the 3rd consecutive year. The Industrial Sector SAMEKS Index, which rose to 55.0 points in this period with the effect of input purchases, was also at the highest level of the last 6 months, however, it was noteworthy that the production in the sector lost momentum compared to the previous month.

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