Turkish Statistical Institute (TUIK) announced industrial production data yesterday. Industrial production contracted by 1.6 on a monthly basis and by 5.3 on an annual basis in August.
According to the Trade Sales Volume Index announced by TÜİK today, the fastest increase in the retail sector in the last six months was experienced in August.
Lecturer at Bilkent University Department of Economics Prof. Dr. Hakan Kara Evaluating two data, he emphasized that the slowdown in the economy was in the wrong place.
Former Central Bank Chief Economist Hakan Kara shared the industrial production and retail sales chart on his X (Twitter) account. “The economy is slowing down, but it is slowing down from the wrong place.” made his assessment.
The economy is slowing down, but it is slowing down in the wrong place. pic.twitter.com/q9KlxSjDhn
— Hakan Kara (@ali_hakan_kara) October 11, 2024
Source: www.dunya.com
