ICI Turkish Export Climate Index September Results Were Announced
- 10.10.2019
- News
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 receded to the level of 50,3 in September. While the index has shown that the moderate improvement maintains its existence in export climate, 77-month extension trend was recorded in its slowest speed.
Manufacture showed a decrease in Germany and United Kingdom which are the biggest two exporting markets of Turkish manufacturing products; and growth appearance realized slightly in European markets, especially in manufacturing industry sector. Economic activity USA gained a slight speed. While the performance of Middle East economies shows a complicated appearance, economic activities increased in Brazil, China and Russia from BRIC countries.
The September 2019 results of 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 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 receded to 50,3 in September which was recorded as 51,1 in August. Index pointed out that the demand conditions in exporting markets continued to be strengthened since the end of the third quarter. However, the improvement was recorded in a highly moderate level and in the slowest level of the 77-month extension trend.
Economic activity decreased in September in Germany and United Kingdom which are the two export market of Turkish manufacturing products. As the result for service and construction sectors not being able to compensate the sharp decrease in manufacturing industry, a recession in Germany has been realized for the first time since April 2013. Manufacturing has been receded for the third time in the last 4 months based on the weakening of activities in all of the manufacturing, services and construction sectors in United Kingdom. Growth appearance realized slightly especially in manufacturing industry sectors in other European markets in September. Manufacturing sector manufacture has shrunk in the highest rate observed since the endings of 2012 in Euro Region.
Growth has shown a slight improvement in USA.
Economic activity in USA which is the biggest economy of the world and consists 5 percent of the export of Turkish manufacturing sector has gained a slight speed in September. Despite, growing speed maintained its weakness. Performance of Middle East economies showed a complicated appearance at the end of the third quarter. Economic activity in Saudi Arabia and United Arabia Emirates maintained its increase in an obvious speed. On the other hand, it has been observed that the manufacturing in Egypt, Qatar and Lebanon slowed down. Economic activity in Brazil, China and Russia increased. Weakness indicators in India economies drew attention. Manufacturing recorded a recession for the first time in the period exceeding the last one and half year in the country.