According to the statement made by the Central Bank of the Republic of Turkey (CBRT), the not seasonally adjusted Real Sector Confidence Index (RSCI) decreased by 3.1 points in November compared to the previous month and became 100.2. This was the lowest reading of the last 10 months.
When the diffusion indices of the survey questions that make up the index are analyzed, evaluations regarding total employment in the next three months and production volume in the next three months affected the index in the upward direction, while evaluations regarding total orders in the last three months, current total orders, fixed capital investment expenditure, export orders in the next three months, general outlook and current stock of finished goods affected the index in the downward direction.
The statement is as follows:
“The non-seasonally adjusted Real Sector Confidence Index (RSCI) decreased by 3.1 points compared to the previous month and realized as 100.2.
In evaluations for the last three months, it is seen that the course in favor of those reporting an increase in the amount of domestic market orders has turned in favor of those reporting a decrease. The trend in favor of those reporting an increase in production volume strengthened compared to the previous month, while the trend in favor of those reporting an increase in export orders weakened.
Assessments that current total orders are below seasonal norms and assessments that current finished goods stocks are above seasonal norms strengthened compared to the previous month.
In assessments for the next three months, the trend in favor of those expecting an increase in production volume and export orders weakened compared to the previous month, while the trend in favor of those expecting an increase in domestic market orders strengthened. Expectations for an increase in fixed capital investment expenditures in the next twelve months weakened compared to the previous month, while expectations for an increase in employment in the next 3 months strengthened.
In average unit costs, the trend in favor of those reporting an increase in the last three months strengthened slightly, while the trend in favor of those expecting an increase in the next three months weakened slightly. Expectations for an increase in selling prices in the next three months also weakened. Annual PPI expectations for the next twelve months decreased by 1.3 points compared to the previous month and realized as 61.2 percent.
Compared to the previous month, the rate of those who stated that they were more optimistic about the general outlook in the industry they are in decreased to 6.8 percent, the rate of those who stated that they were more pessimistic decreased to 15.1 percent, while the rate of those who stated that it remained the same increased to 78.1 percent.”
