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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 MAY IP +0.5% M/M (FCST -0.3%); APR 0.0% M/M
TURKEY MAY IP +9.1% Y/Y (FCST +8.0%); APR +10.8% Y/Y
TURKEY MAY RETAIL TRADE +20.8% Y/Y; APR +15.0% r Y/Y
- Turkish industrial production grew by 0.5% m/m in May, coming in stronger than the anticipated -0.3% m/m contraction.
- Compared to May 2021, IP expanded by 9.1%, remaining in line with robust rates of expansions seen this year.
- Manufacturing accounted for the bulk of IP growth, increasing by 0.8% m/m, whilst mining and energy decreased by 3.0% m/m and 0.3% m/m respectively.
- Real retail sales saw a strong 1.9% m/m and 20.8% y/y expansion in May, whereby food sales saw a significant 2.8% m/m uptick abd automotive fuels jumped 7.8% m/m.
- This May data highlights the Turkish economy's robustness in the face of the falling Lira, however with inflation soaring at 78.62% y/y in June, downside risks to growth may materialise in upcoming months, particulaly if the tourist season disappoints.
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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