During the last two weeks, the Turkish economy was highlighted by the following items:
- CPI index rose by 2.4%m/m in Oct09, leading to an annual rate of 5.1%.
- Foreign Trade Deficit keeps on shrinking to US$4.0bn in Sept09 (-23%y/y).
- Industrial Production’s contraction surged in Sept to -8.4%y/y (v.s. -6.3%y/y in Aug).
- Banking Sector’s net profit was recorded at a level of TL15.7bn in 9M09, up by 41%y/y.
- IMF: no development was recorded.