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TURKEY: Industrial Production Falls 1.6% M/M, Unemployment Rate at 8.5%

TURKEY
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  • Turkey's seasonally and calendar adjusted industrial production fell 1.6% m/m in August versus a revised +0.3% in July, according to the Turkish Statistical Institute. On a year-on-year basis, production fell 5.3% (Est: -2.0%) compared to a revised -4.0% in July.
  • Meanwhile, Turkey's adjusted unemployment rate fell to 8.5% in August from 8.8% in July, matching a multi-year low recorded in April and May earlier this year.
  • Ekonomi report that the daily limit for lira rediscount loans, which offers lower interest rates compared to commercial loans for exporters, was increased to TRY 4bn from TRY 3bn.
  • The central bank will publish weekly capital flow data this afternoon, with current account figures for August on the docket tomorrow (Est: $4.20bn; Prior: $0.57bn).
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  • Turkey's seasonally and calendar adjusted industrial production fell 1.6% m/m in August versus a revised +0.3% in July, according to the Turkish Statistical Institute. On a year-on-year basis, production fell 5.3% (Est: -2.0%) compared to a revised -4.0% in July.
  • Meanwhile, Turkey's adjusted unemployment rate fell to 8.5% in August from 8.8% in July, matching a multi-year low recorded in April and May earlier this year.
  • Ekonomi report that the daily limit for lira rediscount loans, which offers lower interest rates compared to commercial loans for exporters, was increased to TRY 4bn from TRY 3bn.
  • The central bank will publish weekly capital flow data this afternoon, with current account figures for August on the docket tomorrow (Est: $4.20bn; Prior: $0.57bn).