Kazakhstan's manufacturing remained under pressure in May, PMI data shows
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Vehicle sales in Turkey plunged 36% y/y to 51,037 units in July after declining 39% y/y in June, the Turkish Automotive Distributors’ Association (ODD) reported on August 2.
Vehicle sales contracted on an annual basis for four consecutive months since April.
In January-July, Turkey’s overall vehicle sales were down 16% y/y to 406,082 units.
Sales of passenger cars fell by 14% y/y to 317,894 in the first seven months while the light commercial vehicles (LCV) market shrank 23% y/y to 88,188.
The ODD previously forecast that auto sales would amount to between 925,000 and 975,000 in 2018. Given the first-half performance, the ODD’s prediction is rather optimistic.
Across H1, total vehicle production declined by 3% y/y to 843,193 units while passenger car production alone fell 7% y/y to 557,269 units, according to the latest data from the Turkish Automotive Manufacturers’ Association (OSD).
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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
Index at highest since March 2024. However, “safety stock building amid disruption caused by war in Middle East” was a factor.
Weaker investment and consumption hold back Polish GDP expansion in Q1
Poland's GDP grew 3.5% y/y in the first quarter, as household consumption and investment both weakened.
Turkey releases official 1Q GDP growth at 2.5% y/y
The civil servants of economic management tend to release a lower figure in the initial digestion, before revising it up in following releases.
