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Annual inflation hits 24-year high

Annual inflation hits 24-year high

Annual inflation hit 83.45% in September, hitting a 24-year high, according to the Turkish Statistical Institute (TurkStat). The figure remained below the market expectation of 84.63%. The Consumer Price Index (CPI) rose by 3.08% last month. The Istanbul Wage Earners Cost of Living Index (WECLI) prepared by the Istanbul Chamber of Commerce (ITO) jumped 107.42%...

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Economy expands 7.6% year-on-year in Q2

Economy expands 7.6% year-on-year in Q2

The Turkish economy economy grew 7.6% year-on-year in the second quarter of 2022, according to the Turkish Statistical Institute (TurkStat). The country’s gross domestic product (GDP) at current prices surged 114.6% to TRY 3.4tr (USD 219.3bn) in the April-June period, TurkStat said. During this period, while the annual sectoral growth was 7.8% in industry and...

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Consumer confidence hits record low

Consumer confidence hits record low

The seasonally adjusted consumer confidence index fell by 6.2% from 67.6 to 63.4 in June, compared to the previous month, hitting a fresh record low, according to the Turkish Statistical Institute (TurkStat). The index of household finances dropped by 8.1% over the past 12 months from 48.5 to 44.5 while the household finances expectations index...

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House sales up by 39% in April

House sales up by 39% in April

Residential property sales in Turkey increased 38.8% on an annual basis in April, according to the Turkish Statistical Institute (TurkStat). A total of 133,058 houses changed hands last month, up from 95,863 in April 2021, TurkStat reported. Mortgaged house sales stood at 32,030 last month, up 82.9% year-on-year, accounting for 24.1% share of all house...

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Road motor vehicle registrations up in March

Road motor vehicle registrations up in March

Over 97,974 road motor vehicles were registered in Turkey in March, up 47.2% on a monthly basis, according to the the Turkish Statistical Institute (TurkStat). “Cars accounted for 50.9%, followed by motorcycles 25.7%, small trucks 13.5%, tractors 5.5%, trucks 3.2%,” TurkStat said. In terms of the distribution of trademarks for the new registered cars in...

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Consumer confidence down in April

Consumer confidence down in April

Turkey’s consumer confidence posted a 7.3% decrease in April, according to the Turkish Statistical Institute (TurkStat). From 72.5 in March, the consumer confidence index fell to 67.3 this month, data from TurkStat showed. The index is a vital gauge of the economy’s overall situation, indicating people’s sentiments on financial standing and the general economic situation,...

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Non-domestic producer prices skyrocket in March

Non-domestic producer prices skyrocket in March

The non-domestic producer price index (ND-PPI) jumped 105.82% in March, compared to the same month last year, according to the Turkish Statistical Institute (TurkStat). The index also rose by 7.29% in March month-over-month and climbed by 59.47% last month on a 12-month rolling average. For the two main sectors – mining and quarrying, and manufacturing...

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Meaningful support to export investments

Meaningful support to export investments

BY BADER ARSLAN Despite high price increases and the growing current account deficit, the Turkish economy is ending a quarter in which exports contributed significantly to industrial production and growth. Yes, a significant part of the first quarter performance, which exceeded 20 percent for exports, is due to global price increases and the growth of...

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Retail sales volume up by 6.2% in February

Retail sales volume up by 6.2% in February

Turkey’s retail sales volume, a marker of growing consumer spending, surged 6.2% in February compared to the same month last year, according to the Turkish Statistical Institute (TurkStat). Non-food sales – excluding automotive fuel – jumped 12.6% year on year in February, TurkStat data showed. However, sales of food, beverages, and tobacco, as well as...

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Total turnover jumps 105.4% in February

Total turnover jumps 105.4% in February

The Turkish economy’s total turnover surged by 105.4% on an annual basis in February, according to the Turkish Statistical Institute (TurkStat). This was driven by significant growth in the industry, construction, trade, and services sectors, TurkStat data indicated. The largest annual increase in turnover — 123.6% — was in the manufacturing industry followed by services...

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