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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
MNI (London)
TURKEY JUNE ECONOMIC CONFIDENCE 93.6; MAY 96.7
Turkish economic confidence saw a 3.1-point decline to 93.6, the lowest sentiment level since May 2021.
- Consumer confidence slid 6.2% compared to May, manufacturing by 2.2%, services by 1.7% and retail by 2.3%. Construction sector confidence improved by 1.7%. Manufacturing, retail and services are the only indexes still within the optimistic range, the latter two accounting for the bulk of confidence in overall economic confidence.
- Consumer confidence saw the largest decline and is currently at a record low of 63.4 points, substantially below the break-even of neutrality of 100. Both financial expectations and general economic outlooks remain the key downwards drivers.
- With inflation reaching running hot at a 23-year high of 73.5% in May and President Erdogan's refusal to cut interest rates, households continue to bear the brunt of transport and energy prices having over doubled, and food inflation close at to +92% y/y.
Source: Turkstat
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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