Akademik Veri Yönetim Sistemi
Data Science, Machine Learning and Statistics 2019, Van, Türkiye, 26 Haziran - 29 Temmuz 2019, ss.1
Purchasing Managers’ Index (PMI) is one of the indicators to measure the health of an economy. Policy makers and related bodies consider PMI, as it is an influential indicator for gauging general tendency of the economy, especially GDP growth and Industrial Added Value. This is the first study that examines whether the manufacturing PMI has any influence on the stock market of Turkey or vice versa. The study covers monthly data ranging from April 2015 to February 2019. We employ Granger Causality Test to examine causality between the variables (Manufacturing PMI and BIST All Index). Our analysis reveals that manufacturing PMI does not have a causal effect on BIST, but BIST does have a causal effect on manufacturing PMI.