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Holiday Season Extends to Mid-November

TURKEY
  • Lack of demand due to recession, a move away from competitive prices, cheaper freight and China’s return have all led to a contraction in Turkey’s most important export sectors, Ekonomi report. The biggest loss was seen in steel with 36.4%. There are also dramatic declines in the chemicals, textiles, ready-made clothing and cement, glass, ceramics and soil products sectors.
  • With temperatures soaring above seasonal norms due to the El Nino phenomenon and global warming, the tourism season in the southern province of Antalya has extended to mid-November this year, as the city witnesses an influx of bookings hailing from Western European countries, Hurriyet report.
  • Tourist arrival data for August is on the docket later this morning. Our review for yesterday’s CBRT rate decision will be released later today.
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