ICI Turkish Export Climate Index Attachment October Results Were Announced
Istanbul Chamber of Industry (ICI) Turkish Export Climate Index that is the leading indicator measuring the activity conditions of Turkish manufacturing industry in the main export market in October did not show change compared to the September and realized as 50,3. The index pointed out to a limited improvement in the demand conditions of the Turkish manufacturing exporters.
Economic activity in Germany and United Kingdom consisting of 17 percent of the Turkish manufacturing sector export recorded a slight decrease. While a moderate growth maintained its existence in several European countries such as Italy and Spain, French showed a relatively healthy appearance. While demand conditions showed a moderate improvement in USA, growth rate in China reached at the highest level of the last six months and economic activity in Russia increased in the highest rate observed since March.
Istanbul Chamber of Industry (ICI) Turkish Manufacturing Industry Export Climate Index October 2019 Results that is the leading indicator measuring the activity conditions of Turkish manufacturing sector on main export markets were announced. All figures to be measured above 50,0 which is the threshold in index points out to the recovery while others to be measured under 50,0 point out to the deterioration in export climate.
According to the data announced as independent to seasonal impacts, ICI Turkish Manufacturing Sector Export Climate Index did not point out to any change in October and realized as 50,3. The index pointed out to a limited improvement in the demand conditions of the Turkish manufacturing exporters. Improvement in export climate in October realized in the same level in September and accordingly, in the slowest speed of the last six and half years.
Economic activity in Germany and United Kingdom consisting of 17 percent of the Turkish manufacturing sector export was recorded a slight decrease in October as it was in September. Manufacturing sector where the manufacturing activities continued to decrease in the sharp rate became determinative on the weakness in Germany. Moderate growth was observed to maintain its existence in several European countries such as Italy and Spain. French which ensured an increase in manufacturing in a stronger and higher level compared to the previous month pointed out to a respectively healthy appearance. This situation is partially caused by the production of manufacturing industry which moved to the growth region. The situation of manufacturing industry in the other countries was less promising. Manufacturing in Holland, Poland, Czech Republic and Austria recorded decrease. While a decrease was experienced in Holland for the first time since April 2013, the recession in Poland was recorded in the highest level of the last 10 years.
Growth speed in China reached to the highest level of the last six months.
Demand conditions pointed out to a moderate improvement in October with the growth in economic activity in ABD in a similar level with that in the previous month. Additionally, its growth speed was in the weakest level of the last three and a half year. China and Russia took their places among the countries which demonstrated much more positive performance. Growth speed in China which recorded the strongest production increase of the last three years in the manufacturing sector reached to the highest level of the last six months. Economic activity in Russia increased in an intense way and in the highest level observed since March. Saudi Arabia where the expansion in economic activity reached to the highest speed of the last 22 months continued to be the primary resource in the demand increase.
Strong manufacturing growth in several Sub-Saharan Africa economies, especially Nigeria and Uganda constituting a very limited part of the Turkish manufacturing industry recorded a strong manufacturing growth.