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October Trade Deficit Narrows, Economic Index Edges Lower

TURKEY
  • Turkey’s determination to establish a 30-kilometer-deep (18.6-mile) security strip next to its borders continues, President Erdogan said yesterday. "We do not need to get permission from anyone while taking steps concerning the security of our homeland and our people, and we will not be held accountable to anyone," Erdogan said.
  • Data released this morning showed that the Economic Confidence Index fell from 97.1 in October to 96.9, the tenth consecutive print below 100.
  • Turkey’s trade deficit narrowed to $7.874b (Est. -$8.00b) in October from revised -$9.612b in September, according to figures released by the Turkish Statistical Institute this morning. Exports rose 3.0% y/y while imports rose 31.4% y/y.

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