ICI Export Markets Climate Index Rose to 52.7 in August
According to Istanbul Chamber of Industry data, the export climate of the Turkish manufacturing sector reached 52.7 in August, marking its fourth consecutive month of expansion.
The Istanbul Chamber of Industry Turkey Manufacturing Sector Export Markets Climate Index rose to 52.7 in August, carrying the improvement trend in the export climate into its fourth month and recording a significant strengthening in demand conditions.
Fourth Consecutive Monthly Increase in Export Climate
Having stood at 52.2 in July, the Istanbul Chamber of Industry Turkey Manufacturing Sector Export Markets Climate Index increased for the fourth consecutive month in August, climbing to the 52.7 level.
Developments in US and European Markets
While production in the US reached its fastest pace in the last 52 months in August, economic activity recorded expansion in the majority of Europe.
Growth accelerated at a moderate pace in Germany and the United Kingdom, while notable increases were experienced in Italy and Romania; production declined in France and Poland.
Situation in the Middle East and Other Regions
In the Middle East, production growth peaked in the United Arab Emirates and Saudi Arabia, while declines continued in Qatar and Egypt.
S&P Global Market Intelligence Economics Director Andrew Harker stated that they expect the strengthening of global economic growth to help Turkish manufacturers.