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alternative data sources such as e-invoice, e-archive invoice, card payment and foreign trade data in line with international norms and methodologies. The indexes published will be revised if necessary, after the provision of VAT declaration data.
4.2​ Inflation
Turkey's official consumer price inflation ​rose​ to 11.39% y/y in May from April’s 10.94% y/y.
4.3​ PMI Production dynamics
It is a move past the 50-level that is supposed to indicate a recovery in the manufacturing purchasing managers’ index (PMI) data but PMI compiler IHS Markit has bowed to the Turkish distortions. In its charts, a score of 45 is now enough for the TUIK to signal a recovery in the industrial production data, even though there is no connection between industrial production and manufacturing output in the GDP figures and the monthly industrial production data releases.
The Istanbul Chamber of Industry Turkey Manufacturing PMI reading ​was​ 40.9 in May, up from 33.4 in April.
23​ TURKEY Country Report​ July 2020 ​ ​www.intellinews.com