Export climate for manufacturers improves slightly
ISTANBUL
The Istanbul Chamber of Industry (İSO) Türkiye Manufacturing Export Climate Index ticked up to 51 in May from 50.8 in April.
The index posted above the 50 no-change mark for the seventeenth consecutive month to signal a further strengthening in the export climate for Turkish manufacturing exporters.
The latest improvement was only slight but a little more pronounced than that seen in April, the survey said.
The United States, which is the second-largest export market, registered a solid increase in output during May, with the rate of expansion reaccelerating after easing to a 19-month low in April, according to the survey.
Alongside the U.S., the Middle East remained a key source of export opportunities midway through the second quarter, it noted.
“In Europe, the demand picture was mixed. Sustained increases in business activity were seen in a number of key markets, including Italy, Spain and the Netherlands while further reductions in output were recorded in France, Germany and Romania,” it said.
Despite the variations in global trade conditions at present, there are enough pockets of growth among key export partners to mean that the overall demand climate for Turkish manufacturing exporters improved again during May, commented Andrew Harker, economics director at S&P Global Market Intelligence.
The rebound in growth in the U.S. was a key highlight of the month, while firms will be hoping to see something similar among the larger European economies to really provide a boost to overall conditions, Harker said.
