Unemployment in Turkey
Turkey - UnemploymentThe economy is expected to have shrunk again in the second quarter. On an annual basis, industrial output continued to fall in April and May, albeit at a more moderate pace than in Q1 amid a softer contraction in manufacturing production. The manufacturing PMI, meanwhile, remained entrenched in contractionary territory through the quarter despite reaching a near one-year high in June. Furthermore, retail sales fell at a sharper pace in April–May than in Q1. This came amid ongoing currency weakness; frail consumer credit growth; and still-elevated inflationary pressures in the quarter. More positively, the current account balance has improved notably in annual terms so far this year, although this is due to meek domestic demand and a shaky lira. Meanwhile, geopolitical tensions with the U.S. and EU resurfaced in recent weeks, which could shake an already rocky economy.
Turkey - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Turkey Unemployment Chart
Source: Statistical Institute.
|Bond Yield||14.91||-0.09 %||Jul 31|
|Exchange Rate||5.59||-0.85 %||Jul 31|
|Stock Market||102,082||1.41 %||Jul 31|
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August 9, 2019
Turkey recorded a USD 0.6 billion current account deficit in June (May: USD +0.3 billion) that overshot market expectations of a USD 0.3 billion deficit, closing the second quarter on a slightly sour note; however, the figure was a stark improvement from the USD 3.0 billion shortfall that was recorded in June 2018.
August 5, 2019
Turkish consumer prices jumped 1.36% month-on-month in July, markedly up from the prior month’s soft 0.03% increase.
August 1, 2019
Operating conditions in the Turkish manufacturing sector deteriorated at an accelerated pace in July, with the Istanbul Chamber of Industry and IHS Markit’s manufacturing Purchasing Managers’ Index (PMI) dropping from 47.9 in June to 46.7 in July.
July 30, 2019
In recent weeks, geopolitical confrontation has dominated headlines due to Turkey’s decision to go ahead with its purchase of a Russian missile system and drilling activity off the coast of Cyprus.
July 25, 2019
Business confidence dropped markedly from 102.5 in June to 98.3 in July, opening the third quarter on a sour note.