Kazakhstan's manufacturing remained under pressure in May, PMI data shows
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Consumer sentiment in Turkey moved up by 4% m/m to 71.3 on the index in July after showing a slight recovery of 0.6% m/m in June, according to data from national statistics office TUIK released on July 23.
In the year to date, the index hit its lowest point in May, when a level of 69.9 was recorded on the back of the collapse of the Turkish lira (TRY), fears of an upcoming sharp economic downturn and the uncertainties caused by the calling of the June 24 early elections. The index subsequently moved on to a path of recovery in the following two months. Nevertheless, the July reading is below April’s 71.9.
July's survey includes consumers’ reaction to the results of the June 24 snap polls. Turkish voters will also go to the polls in March 2019 for the municipal elections. The local elections may prove an instructive vote of confidence on Turkish President Recep Tayyip Erdogan’s full-blown executive presidency regime which came into full effect after his election triumph last month.
Homes sales in Turkey rose by 22% y/y to 119,413 units in June following the 3% y/y growth registered in May, national statistics office TUIK reported on July 19.
Mortgage sales jumped by 35% y/y to 47,648 contracts, marking the first annual increase recorded this year.
The government tried to stimulate home sales prior to the June 24 snap elections.
Turkey's calendar-adjusted retail sales volume index rose by 4.2% y/y in May. The rate was the lowest recorded since November last year and follows the 8.2% y/y increase posted in April, national statistics office TUIK reported on July 18.
Turkey’s economic confidence index fell by a sharp 3.3% m/m to 90.4 in June, the lowest level seen since January 2017, data from national statistics office TUIK showed on June 28.
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Data
Kazakhstan's manufacturing remained under pressure in May, PMI data shows
New orders decrease slightly. Record reductions in backlogs and stocks of finished goods.
Near-stabilisation of business conditions in Turkish manufacturing recorded by May PMI
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