Turkey’s export, PMI, inflation figures to be released this week

ISTANBUL

Turkish agencies and associations will release foreign trade, manufacturing sector activity, inflation and cash balance data during the week.

Trade Minister Ruhsar Pekcan is expected to announce the export-import figures of October in a meeting on Nov. 2 with Turkish Exporters’ Assembly (TİM) President İsmail Gülle.

The Purchasing Managers’ Index (PMI) data for last month will also be revealed on Nov. 2. The PMI for the manufacturing sector stood at 52.8 in September, down from 54.3 in August.

As standing above 50.0 or no-change level, the PMI has indicated that the recovery from the downturn caused by the coronavirus pandemic has continued for the fourth consecutive month.

On Nov. 3, the Turkish Statistical Institute will reveal consumer price index figures.

Turkey’s annual inflation rate is expected to rise slightly in October to 11.76 percent from 11.75 percent in September, economists said on Oct. 29.

A group of 17 economists surveyed by Anadolu Agency also predicted that the monthly inflation rate would be 2.01 percent in October.

Year-end inflation is forecast at 12.06 percent, which is an average of estimates ranging between 10.75 and 13.74 percent.

The government’s year-end inflation target for 2020 is 10.5 percent, as laid out in the new economic program announced last September. The Central Bank, however, raised its year-end inflation forecast to 12.1 percent last week.

On Nov. 6, the Treasury and Finance Ministry will release the latest cash balance figures.