Ford drives hike in car production in Romania
1 day ago
Confidence in Turkish economy improved for the fifth straight month in June with consumers and companies shrugging off worries about domestic political uncertainties and rising security threats.
The headline confidence index rose by 1.3% m/m in June with consumer confidence improving by 1% on the month, while confidence in the construction and services industries edging up 2.2% m/m and 1.3% m/m respectively, data from the statistics office TUIK showed on June 29.
The sub-index measuring the real sector confidence, however, fell 1.3% m/m, after remaining flat in the previous month. Confidence in the retail industry plummeted with the respective indicator dropping 4% m/m, to follow a 0.1% m/m decline in May.
The attack on Istanbul’s largest airport on June 28 by suspected Islamic State militants has once again highlighted rising security risks, suggesting violence in Syria is spilling over into the country at a time when Turkey is also stepping up fight against the Kurdistan Workers’ Party (PKK).
Still, the impact of the June 28 bombing on Turkish markets have been rather limited. The main stock exchange index fell 0.59% but the lira gained 0.17% against the dollar, supported by Ankara’s efforts to mend ties with Israel and Russia. Investors are optimistic that restoring ties with Moscow and Tel Aviv will boost Turkey’s slowing economy and provide a much needed boost to the country’s struggling tourism industry.
| Turkey's Confidence Indices | |||||||||||||
| Dec-14 | Jul | Aug | Sep | Oct | Nov | Dec-15 | Jan | Feb | Mar | Apr | May | Jun | |
| Economic | 94.9 | 86.5 | 86.5 | 72.6 | 82.6 | 104.8 | 100.8 | 83.9 | 71.5 | 78.3 | 73.5 | 82.3 | 83.3 |
| Consumer | 67.7 | 64.7 | 62.4 | 58.5 | 62.8 | 77.1 | 73.6 | 71.6 | 66.6 | 67.0 | 68.5 | 68.8 | 69.4 |
| Real Sector | 108.0 | 103.1 | 103.1 | 99.7 | 103.6 | 110.2 | 108.8 | 105.9 | 105.2 | 104.1 | 105.7 | 105.7 | 104.3 |
| Services | 98.8 | 100.4 | 100.2 | 98.1 | 98.2 | 100.0 | 99.0 | 92.5 | 89.2 | 93.5 | 89.9 | 94.5 | 95.8 |
| Retail | 105.4 | 103.7 | 102.0 | 98.4 | 100.8 | 105.4 | 104.9 | 108.8 | 106.2 | 110.5 | 104.0 | 103.8 | 99.7 |
| Construction | 82.7 | 83.0 | 82.3 | 80.9 | 80.5 | 84.5 | 85.1 | 83.9 | 82.8 | 81.4 | 81.5 | 79.2 | 80.9 |
| source: tuik | |||||||||||||
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
1 day ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
Remittances come to the rescue of Lebanon’s battered economy
20 hours ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 days ago
-
Iran vs Israel: Who is better equipped for war?
5 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
5 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
6 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
19 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago