In May 2024, the seasonally and calendar adjusted SAMEKS Composite Index lost 7.6 points of momentum compared with the previous month, falling to a value of 49.5 and coming in below the reference value.
In this period, the Services Sector SAMEKS Index recorded a decline of 8.3 points compared with the previous month, falling to a level of 49.8. The Industry Sector SAMEKS Index also lost 9.8 points of pace compared with the previous month, coming in at a level of 49.6.
In the decline observed in the services sector, the sharp slowdown in input purchases and the contraction recorded in business volume as a result of it were decisive. In the industry sector, on the other hand, the marked decrease in new orders compared with the previous month was the determinant of the contraction observed in production.
As a result of these developments, the SAMEKS Composite Index, which fell below the reference value in May at a level of 49.5 points, indicated for the first time since the February 2023 period, when the disaster of the century occurred, that economic activity contracted on a monthly basis.
CLICK HERE TO ACCESS THE SAMEKS MAY 2024 DATA.