In February 2023, the seasonally and calendar adjusted SAMEKS Composite Index fell by 5.2 points compared to the previous month to 48.7.
The earthquake disaster that occurred on Monday, 6 February with its epicentre in Kahramanmaraş, directly affecting 10 provinces and 13.5 million citizens, had a highly negative impact on socioeconomic life not only in the region where it occurred but across the country.
In this context, the disruption of production and trade in these 10 provinces, which account for approximately %9.0 of total GDP, meet almost %8.0 of total exports and come to the fore in many sectors, above all in manufacturing industry, caused economic activity across the country to slow compared to the previous month, and as a result the SAMEKS Composite Index also fell below the threshold value of 50.
In addition to production in the region being largely disrupted, the damaged highways and ports also seriously hindered logistics; as a result, the SAMEKS Services Sector Index fell by 4.7 points compared to the previous month to 49.4, while the SAMEKS Industry Sector Index fell by as much as 7.4 points to 47.3 points. Thus in February, the SAMEKS Services Sector Index gave a signal of decline after 5 months and the SAMEKS Industry Sector Index after 18 months.
In this period, while a contraction in business volume was observed as input purchases relating to the services sector rapidly lost momentum compared to the previous month, a slowdown in production was recorded in the industry sector due to the declines observed in new orders.
CLICK HERE FOR THE SAMEKS FEBRUARY 2023 DATA.