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Manufacturing Confidence Rises in February, CA Deficit Expected to Narrow

TURKEY
  • Turkey’s 12-month cumulative current account deficit probably shrank further in February, Hurriyet report Trade Minister Omer Bolat as saying. “When the data for February is released, we will see the annualized current account deficit decline to around $32bln,” Bolat said. Data is released on Apr 17. In the medium-term program unveiled in September last year, the government forecast a current account deficit of $34.7bln for 2024.
  • Turkey's manufacturing confidence rose to 104.4 in March from 101.5 in February, according to the Central Bank of Turkey. That is its highest value since November. Adjusted manufacturing confidence rose to 103.5 from 102.0 while capacity utilisation fell to 76.2% from 76.4%.
  • There are no other economic releases or speaker events scheduled for the remainder of the day. Our preview for yesterday’s CBRT decision will be released later today.

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