In the economy, all eyes will be on macroeconomic data such as inflation, growth, exports and unemployment, and the Inflation Report of the Central Bank of the Republic of Turkey (CBRT), which will be announced in August.
Minister of Commerce Ömer Bolat is expected to announce foreign trade data for July at the press conference he will hold in Istanbul on August 3. Exports increased by 21.9 percent on an annual basis in June to 25 billion dollars, reaching the highest June figure of all time.
Turkish Statistical Institute (TUIK) will announce inflation data for July to the public on August 3. CPI increased by 0.99 percent on a monthly basis in June, D-PPI increased by 1.8 percent, and annual inflation was recorded as 32.11 percent in consumer prices and 28.09 percent in domestic producer prices.
TurkStat will announce the industrial production index for June, one of the data awaited by the markets, on August 10. While the index remained the same on an annual basis in May, it decreased by 2.9 percent on a monthly basis. The institution will also announce the construction cost index for June on the same day.
The real return rates bulletin of financial investment instruments for July will also be shared with the public on August 10.
Trade sales volume and turnover indices for June will be announced on August 11, and foreign trade indices will be announced on August 12.
EYES ON BALANCE OF PAYMENTS DATA
CBRT will also announce the balance of payments statistics for June on August 13. While the current account account had a deficit of 1 billion 459 million dollars in May, there was a surplus of 3 billion 626 million dollars in the current account account excluding gold and energy in this period.
TurkStat will announce housing and workplace sales statistics for July on August 13. In the January-June period, 699 thousand 516 houses were sold in Türkiye.
On the same day, the agricultural products producer price index for July will also be announced.
Salaried employee statistics and service production and construction production indices for June will be announced on August 14. The number of paid employees increased by 0.5 percent in May compared to the same month last year, reaching 15 million 970 thousand 105 people.
The Ministry of Treasury and Finance will also announce the budget implementation results for July on August 17. Türkiye’s central government budget revenues were determined as 1 trillion 509.6 billion lira and expenses were determined as 1 trillion 395.5 billion lira in June. While there was a surplus of 114.2 billion lira in the budget in June, a deficit of 942 billion 835 million lira was calculated in the January-June period.
DATA FOR THE SECOND QUARTER OF THE YEAR WILL BE ANNOUNCED
TURKSTAT will announce labor force statistics for the second quarter of the year on August 19.
The institution will announce the foreign producer prices for July and agricultural input price indices for June on August 20.
The consumer confidence index for next month will be announced on August 21. In July, the consumer confidence index reached its highest level after May 2023 with 89.8.
TurkStat will share the service, retail trade and construction confidence indices for the month in question with the public on August 25.
Labor force statistics for July and growth figures for the second quarter of the year, which are the critical data on which all eyes are focused, will be announced on August 31.
The Turkish economy recorded 2.5 percent growth on an annual basis in the first quarter of the year. The unemployment rate also decreased by 0.5 points compared to the previous month, falling to 7.6 percent in June.
THE THIRD INFLATION REPORT OF THE YEAR WILL BE ANNOUNCED
CBRT President Fatih Karahan will share this year’s third Inflation Report with the public on August 13. The messages to be included in the Inflation Report are closely followed by the markets.
In the introduction of the second Inflation Report of the year, Karahan said, “We estimate that inflation will be 26 percent at the end of the year and 15 percent at the end of 2027. We predict that inflation will stabilize at 5 percent, which is the inflation target in the medium term, after decreasing to 9 percent at the end of 2028.” He used the following expressions:
THE ROADMAP OF THE ECONOMY IS BEING DETERMINED
Preparatory work for the Medium Term Program (MTP), which serves as a three-year road map for the economy, will also be carried out intensively in August. With the MTP, which is expected to be announced in September, basic macro indicators such as growth, inflation, employment, exports and current account balance for the 2027-2029 period will be determined.
President Recep Tayyip Erdoğan, in his statement after the Cabinet Meeting, said, “We have an intense working period ahead of us. While our economic management is preparing our Medium Term Program, on the other hand, it is working on the reforms to be presented to the Parliament.” He gave the information.
