Industrial production data to be unveiled

ANKARA

The markets will keep an eye on some crucial data to be announced this week, including the balance of payments, unemployment and industrial production.

On Oct. 10, the Turkish Statistics Institute (TÜİK) will release the industrial output figures for August. The annual increase in industrial production accelerated from a meager 0.2 percent in June to 7.4 percent in July, but the monthly output fell 0.4 percent.

Also, on Oct. 10, the unemployment rate will be out. The jobless rate in Türkiye inched down from 9.6 percent in June to 9.4 percent to 3.29 million people in July.

On Oct. 11, the Central Bank will release the balance of payments figures for August. Economists expect a current account deficit to be $800 million in the month.

In July, the current account balance posted a deficit of $5.47 billion after recording a surplus of $651 million in the previous month. The current account deficit, consequently, widened from $32.2 billion in the first seven months of 2022 to $42.3 billion in January-July this year.

Also on Oct. 11, the construction cost data as well as retail sales and turnover in the industry, construction, trade and services sectors will be released.

The pace of year-on-year growth in retail sales quickened from 29.3 percent in June to 31 percent in July, while the combined turnover in the four key sectors leaped 77 percent in July from a year ago after rising 54.2 percent annually in June.