Turkey’s statistics institute (TUIK) will release the business confidence index and capacity utilisation rate data for February today (February 24).
Business confidence fell for a fourth straight month in January. The confidence index declined to 101.4 in the month from 102.1 in December 2013 while the seasonally adjusted index fell to 104.2 from 110.6. Export order index may improve in February on the back of weak TRY but overall business sentiment is likely to show a deterioration given the on-going political turmoil and the risk of a hard landing.
The other import data release today is the manufacturing capacity utilisation rate (CUR). The CUR fell to 73.9% in January from 76% in December 2013 and the calendar adjusted CUR plummeted to 74.5% from 75.9%. The durable consumer goods manufacturing industry saw its CUR fall to 68.6% in January from 72.9% the previous month while the capital goods manufacturing sector’s CUR dropped to 73.7% from 76.1%.
Turkey's President Recep Tayyip Erdogan said on October 13 that he plans to hold talks with both public and private lenders on how to lower interest rates. He did not say, however, when those ... more
Turkish President Recep Tayyip Erdogan has turned his fire on the US ambassador to Turkey for the ... more
The Central Bank of Iran (CBI) and the Turkey-based ECO Trade and Development Bank (ETDB) have signed a memorandum on strengthening bilateral ties, the CBI said on October 10. ETDB is a Eurasian ... more