May Turnover Index Surges 32.9% Year-on-Year: Industrial and Services Growth Accelerates

The Turkish Statistical Institute (TÜİK) announced that the seasonally and calendar-adjusted total turnover index rose by 32.9% annually in May, highlighting robust performance in the industrial and services sectors.

Industrial Sector Outpaces with 36.6% Annual Growth

■The calendar-adjusted industrial turnover index increased by 36.6% year-on-year, while seasonally it declined by 2.5% from April.

■Industry led the total turnover index gains, suggesting production capacity stability in the short term.

Construction Shows Resilience with 23% Annual Gain

■The calendar-adjusted construction turnover index rose by 23% annually, with a 5.6% seasonal increase.

■Construction sector mirrored industry's annual growth but displayed intramonth volatility.

Trade Surges 31.8% Yearly, 3% Seasonally

■The calendar-adjusted trade turnover index climbed 31.8% year-on-year and 3% seasonally.

■Trade ranked second in total turnover index growth, aligning with employment and demand strength.

Services Lead with 34.8% Annual and 3.6% Seasonal Rise

■The calendar-adjusted services turnover index hit 34.8% annual growth and 3.6% seasonal increase.

■Services achieved the highest annual turnover index gain, outpacing other sectors.

From a market perspective, these explosive turnover figures in industry and services suggest short-term economic stability in Turkey. However, seasonal construction volatility underscores external dependency risks. Compared to ISM Manufacturing Indexes, industrial growth aligns with global supply chain adjustments, indicating potential resilience amid ongoing macroeconomic challenges.