In February 2022, the seasonally and calendar adjusted SAMEKS Composite Index rose by 2.5 points compared to the previous month to 52.7.

While the industry sector index, which rose by 3.5 points compared to the previous month to 56.6, played the determining role in this acceleration observed in the index, the services sector index also rose by 1.4 points to 51.1 and stood above the reference value after an interval of 2 months.

In this period, as the positive outlook in new orders continued, an increase in production was observed in the industry sector, while in the services sector the fact that input purchases maintained their high course was the determining factor of the acceleration across the sector.

As a result of these developments, the seasonally and calendar adjusted SAMEKS Composite Index, which stood at 52.7, maintained its positive outlook in this period as well and pointed to the vitality of economic activity in February.

Industry Sector SAMEKS Index

The seasonally and calendar adjusted Industry Sector SAMEKS Index rose in February 2022 by 3.5 points compared to the previous month to 56.6.

The rise in new orders by 2.7 points compared to the previous month to 55.8 points was the determining factor of the acceleration observed in the industry sector.

Input purchases, which stood at 63.2 despite losing 1.9 points of momentum compared to the previous month, maintained their positive outlook in this period as well.

As a result of these developments, the production sub-index rose by 4.3 points to 50.9 points and indicated that an increase in production was recorded across the sector compared to the previous month.

While the suppliers' delivery time sub-index, which stood at 52.6 points despite a decrease of 2.9 points compared to the previous month, indicated that the improvement in firms' supply processes continued, the finished goods stock sub-index, which rose by 2.0 points to 47.6, maintained its course below the reference value.

In this period, the employment sub-index, standing at 52.6 points despite a decrease of 2.9 points compared to the previous month, showed that the positive outlook of labour supply and demand continued across the industry sector.

Thus the Industry Sector SAMEKS Index, which rose by 3.5 points compared to the previous month to 56.6 points, indicated that the increase across the sector gained pace in February.

Services Sector SAMEKS Index

The seasonally and calendar adjusted Services Sector SAMEKS Index rose in February 2022 by 1.4 points compared to the previous month to 51.1.

While the rise in input purchases by 3.2 points compared to the previous month to 72.1 was effective in this development, business volume across the sector, despite recording an increase of 6.9 points, maintained its stagnant outlook in this period as well at 44.7 points.

In this period, while the suppliers' delivery time sub-index at 53.8 points indicated that the supply of goods and services was following a positive course, the negative outlook continued in the finished goods stock sub-index, which stood at 47.8.

The employment sub-index, meanwhile, recorded an increase of 1.3 points compared to the previous month and, after an interval of 4 months, once again stood above the reference value, showing that labour supply and demand gained pace across the services sector.

As a result of these developments, the Services Sector SAMEKS Index, which rose to 51.1, stood above the reference value after an interval of 2 months and pointed to the vitality of economic activity in February.

COMMENTARY:

The seasonally and calendar adjusted SAMEKS Composite Index, which made a positive entry into 2022 by rising to 50.2 in January, continued its upward trend in February as well and thus continued to present a positive outlook for the first quarter. In this period it was observed that the recoveries in both the industry and the services sectors gained pace, and the SAMEKS Services Sector Index, which rose above the reference value of 50 after an interval of 2 months and moved into growth, drew attention. The SAMEKS Industry Sector Index, which reached its highest level of the last 3 months at 56.6 points, also indicated that production capacity across the manufacturing sector recorded an increase.