Turkish data wrap-up
Here are a few recent developments on the Turkish data front:
I. July inflation will be released tomorrow (Wednesday), and if past is any guide, it is pointing to a tame outlook, at least not different from previous years:
But as I have argued before, it should not be any guide…
…especially for food inflation, which is often used by Turkey economists:
BTW, the market is expecting a bit less than 0 percent mom, but the Turkey economists I trust have penciled in 0 percent.
II. Preliminary export figures by the Turkish Exporters Association show that exports are continuing to grow well…
…but Turkish trade deficit hinges on import, rather than export growth:
III. Last but not the least, I continue have no clue on why Turkey’s two confidence indices are moving in completely opposite directions:
See you (probably) after tomorrow’s inflation print…
Comments are closed.
