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Survey Shows Businesses Don’t Trust Official Statistics

TURKEY
  • Turkish businesspeople say “unrealistic data, lack of transparency and political intervention” are reasons for not trusting in data published by TurkStat, according to AGS Global, an Istanbul-based survey group that was cited by Bloomberg. The survey was carried out among 224 businesspeople in Turkey. Nevertheless, the economy management’s policies have boosted confidence in TurkStat data according to 31.3% of participants.
  • Turkey’s seasonally-adjusted unemployment rate fell to 8.8% in December from a revised 8.9% in November, according to the Turkish Statistical Institute. That is the lowest level in the adjusted data series. The number of jobless fell by 12k from the previous month to 3.1m, while the adjusted labour force participation rate stood at 53.5%.
  • The US moved ahead with a $23bln sale of F-16 warplanes, missiles and bombs to long-time ally Turkey after Ankara’s ratification of Sweden’s membership in NATO, Bloomberg report. Congress approved Turkey’s acquisition of as many as 40 F-16 aircraft and 79 upgrade kits to modernise its fleet as well as hundreds of missiles and bombs.
  • Current Account (Est: -$3.30bln; Prior: -$2.72bln) and Retail Sales data are the highlights on the local slate for the week ahead.
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