Browsing: Manufacturing

Macro View
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August Job Report: Confirming Weakness

The unemployment rate in Turkey rose by 1.2 percentage points y/y to 11.3% while the non-farm unemployment rate climbed to 13.7%. This August job report marked another step in deceleration pace of the economy. Partly due to the purge following the coup attempt and struggling…

Macro View
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September Industrial Production: Stating GDP Contraction

September industrial production index was down -4.2% y/y well below the market consensus of 2.5% y/y, driving the 3-month moving average to the negative territory for the first time since the global financial crisis. Following the results analysts downgraded their 2016 GDP growth estimate to…

Macro View
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August Industrial Production: Not Enough Dynamism

Rising by 2% y/y, industrial production index posted a subdued performance in seasonally and working-day adjusted series in August, after a decline of 4% in July.  The sub-index of manufacturing performed even worse with posting 1.4% growth after contracting by 5.4%, which is the industry…

Macro View
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Turkey: February Job Report

Good News or Bad News Labor market data for February 2016 was released early this week. The unemployment rate was down 20 basis points on monthly basis to 10.9% according to the official figures. The employment rate also saw a pick-up and stood at 45.3%…