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Industrial Production Falls 0.3% M/M, Unemployment Rate Moderates to 8.6%

TURKEY
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  • Turkey's seasonally and calendar adjusted industrial production fell 0.3% m/m in March, according to the Turkish Statistical Institute. The year-on-year figure rose 4.3% - a substantial moderation compared to last month’s revised +11.2%.
  • Meanwhile, Turkey’s adjusted unemployment rate fell to 8.6% in March from 8.7% in February, matching the multi-year low printed in October 2023.
  • As a reminder, Bloomberg reported yesterday that Turkish officials are readying to announce a series of fiscal measures as early as Monday to cut public spending, according to people with knowledge of the matter. The government’s savings measures will include a review of expenditures, slow some public spending and reduce investments in some sectors, said the people who were briefed on the plans.
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  • Turkey's seasonally and calendar adjusted industrial production fell 0.3% m/m in March, according to the Turkish Statistical Institute. The year-on-year figure rose 4.3% - a substantial moderation compared to last month’s revised +11.2%.
  • Meanwhile, Turkey’s adjusted unemployment rate fell to 8.6% in March from 8.7% in February, matching the multi-year low printed in October 2023.
  • As a reminder, Bloomberg reported yesterday that Turkish officials are readying to announce a series of fiscal measures as early as Monday to cut public spending, according to people with knowledge of the matter. The government’s savings measures will include a review of expenditures, slow some public spending and reduce investments in some sectors, said the people who were briefed on the plans.