Akdağ, SaffetDeran, Aliİskendereoğlu, Ömer2024-02-082024-02-082020Akdağ, S., Deran, A. ve İskenderoğlu, Ö. (2020). Is PMI a Leading Indicator: Case of Turkey, Sosyoekonomi, 28 (45), 37-47.1305-5577https://dergipark.org.tr/en/download/article-file/797429https://hdl.handle.net/20.500.13099/205In this study, the causal relationships of the Purchasing Managers Index (PMI) with various financial factors are examined. As a result of the analysis, it is determined that the change in the Istanbul-Stock-Exchange-Industry Index (ISEIND) causes the change in the PMI and the changes in the PMI also causes the changes in the Industrial-Production Index (IPI) and the Capacity-UtilizationRates (CUR). It is also determined that the causality towards to PMI from the ISEIND and causality towards IPI from PMI is valid in the medium- and long-run, whereas the causality towards PMI to CUR are valid for the all periods. According to these results, PMI can be considered as a leading indicator for the real sector. However, the same result does not apply to the financial sector.enginfo:eu-repo/semantics/openAccessPurchasing Manager’s IndexIstanbul Stock Exchange Industry IndexIndustrial Production IndexCapacity Utilization RatesGranger CasualityFrequency Domain CausalitySatınalma Yöneticileri EndeksiBİST Sanayi EndeksiSanayi Üretim EndeksiKapasite Kullanım OranıGranger NedensellikFrekans Nedensellik Analiziarticle10.17233/sosyoekonomi.2020.03.0328453747