Current account, industrial output data to be released this week

ANKARA

Several key macroeconomic data will be released this week, including current account, industrial production and unemployment rate.

The Central Bank will unveil the current account numbers of May on July 17 with economists expecting a deficit of around $1.4 billion. In April, the current account deficit was $5.3 billion, while the January-April deficit declined from $29.7 billion last year to $16.1 billion.

Economists expect the current account deficit to be around $26.7 billion at the end of 2024.

The Turkish Statistical Institute (TÜİK) on July 10 will release industrial production and unemployment data for May.

In April, Türkiye’s industrial output shrank 0.7 percent from a year ago after rising 4.6 percent annually in the previous month. In the manufacturing sector, the production fell 1.5 percent from April 2023.

The unemployment rate eased from 8.6 percent in March to 8.5 percent in April to more than 3 million, according to the latest TÜİK data.

Also on July 10, the construction cost data will be released by TÜİK. The year-on-year increase in the construction cost index quickened from 69.98 percent in March to 71.8 percent.

Finally, on July 11, TÜİK will release retail sales and turnover in the key industry, construction, trade and services sectors.