Unemployment in Turkey
Turkey - UnemploymentAlthough GDP figures for Q1 are still outstanding, the latest signs point to ebbing momentum in the run-up to general elections on 24 June. In May, the manufacturing PMI dived further into negative territory on lower output and new orders, while consumer and business confidence declined in the same month. In addition, in March industrial production growth moderated for the third consecutive month, despite remaining robust. On the positive side, the unemployment rate has fallen markedly so far this year in annual terms. There are, however, signs of rising imbalances, with the current account deficit ballooning in the first three months of the year on surging imports; this poses a risk to the economy, given that the deficit is financed in large part by short-term capital flows. The weaker external position has put pressure on the lira, which is down sharply since the start of the year. This is fanning inflation and putting pressure on businesses, many of which hold substantial foreign currency debt.
Turkey - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Turkey Unemployment Chart
Source: Statistical Institute.
|Bond Yield||15.69||-0.09 %||Jun 14|
|Exchange Rate||4.73||-0.85 %||Jun 14|
|Stock Market||94,541||1.41 %||Jun 14|
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June 11, 2018
The current account balance recorded a USD 5.4 billion deficit in April, USD 1.7 billion larger than the deficit recorded in April 2017.
Turkey: Economy continues to expand at full speed in Q1, although a slowdown is likely going forward
June 11, 2018
According to data released by Turkstat on 11 June, the economy grew a significant 7.4% in the first quarter in annual terms, handsomely beating market expectations and marking a slight uptick from Q4’s 7.3% reading.
June 7, 2018
At its monetary policy meeting held on 7 June, the Central Bank of the Republic of Turkey (CBRT) raised the one-week repo rate—which from 1 June became the main policy rate—from 16.50% to 17.75%.
Turkey: Inflation surges in May on the weaker lira, putting pressure on the Central Bank to hike rates
June 4, 2018
Consumer prices rose 1.62% from the previous month in May, down slightly from April’s 1.87%.
June 1, 2018
Manufacturing conditions worsened for the fourth straight month in May, with the Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, dropping from 48.9 in April to 46.4.