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Industrial Production Rises 1.6% m/m, Exceeding Expectations

  • Seasonally and calendar adjusted industrial production fell 0.2% y/y (Est: -1.9%) in December versus a revised -1.1% in November, according to data released this morning. The monthly figure rose 1.6% (Est: 0.0%, Prior: -1.0%). Meanwhile, Turkey’s adjusted unemployment rate rose to 10.3% in December from 10.2% prior.
  • The head of the main opposition Republican People’s Party, Kemal Kilicdaroglu, said shoddy construction contributed to the high casualty toll and that Turkey had not learned lessons from the past, Bloomberg report. He accused the government of squandering taxpayers’ money earmarked for preparing for such disasters. Access to Twitter in Turkey was temporarily restricted after Kilicdaroglu’s comments, though the telecom watchdog hasn’t said it shut down access.
  • The US will provide $85m in urgent humanitarian assistance in response to the worst earthquake to hit the region in nearly a century, the US Agency for International Development said in statement lates last night cited by Bloomberg.

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