Turkish producers’ non-domestic producer price index (ND-PPI) for January decreased by 1.37pc from the previous month but increased by 32.51pc from January 2019, according to the Turkish Statistical Institute (TUIK or TurkStat).
Mining and quarrying declined by 2.42pc while manufacturing dropped by 1.35pc last month, compared to December 2020. In January, mining and quarrying rose by 33.07pc, and manufacturing climbed by 32.49pc compared with the same month last year. The energy sector was the only ND-PPI that declined by 4.49pc in January on an annual basis.
Base metals products declined by 0.24pc in January from December 2020 and fabricated metal products dropped by 2.82pc in the months under comparison. Motor vehicles and transportation trailers fell by 1.9pc while machinery and equipment decreased by 1.83p in this timeframe.
Turkey’s seasonally adjusted confidence index declined by 1.4pc in the services sector and by 1.3pc in the construction sector in February from the previous month. The retail trade segment improved by 0.4pc during this period.
The construction confidence index decreased by 1.3pc from 84.2 in January to 83.1 in February. Construction orders rose by 1.6pc from 75.7 last month to 76.9 in February. However, the total employment expectation over the next three months within the sector, dropped by 3.6pc from 92.6 in January to 89.3 this month. Of those surveyed, 51pc of enterprises indicated at least one limiting factor which included financial constraints, insufficient demand, and other market factors.