Unemployment in Turkey
Turkey - UnemploymentThe economy should have grown at a robust, albeit softer, annual pace in the third quarter. Industrial output cooled markedly on average in the quarter, but remained solid, with the sector supported by resilient goods export growth. Meanwhile, business confidence turned more optimistic in the quarter and the manufacturing PMI averaged higher, suggesting solid private-sector activity. Moreover, retail sales growth moderated, but remained elevated on average in the quarter, chiefly thanks to a tighter labor market as price pressures continued to build. Turning to Q4, the economic backdrop has darkened notably in recent weeks as the country has seemingly entered the beginnings of a currency crisis. The lira nosedived after another cut to the one-week repo rate in mid-November, which will further stoke price pressures. As a result, consumer sentiment dropped to a record low in November.
Turkey - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Turkey Unemployment Chart
Source: Statistical Institute.
|Bond Yield||12.00||-0.09 %||Dec 31|
|Exchange Rate||5.95||-0.85 %||Jan 01|
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November 30, 2021
The Turkish lira nosedived following the Central Bank’s announced rate cut on 18 November, and it has continued to set new record lows in the days and weeks after the Monetary Policy Committee’s meeting.
November 22, 2021
Sentiment among consumers continued to worsen in November, with the consumer confidence index dropping to 71.1 from 76.8 in October.
November 18, 2021
The Monetary Policy Committee of the Central Bank of Turkey (CBRT) continued to ease its policy stance at its 18 November meeting, bringing the one-week repo rate down from 16.00% to 15.00%.
November 12, 2021
Industrial output grew 8.9% year-on-year in September (August: +14.0% yoy).
November 11, 2021
Turkey’s current account balance showed a surplus of USD 1.7 billion in September, marking the second consecutive surplus and more than doubling from August’s USD 0.8 billion surplus (September 2020: USD 2.3 billion deficit).