Page 27 - TURKRptSep20

Turkey’s industrial production and GDP data, produced by the TUIK, are unfortunately far from reliable, while the Purchasing Managers’ Index (PMI) data compiled by IHS Markit under the sponsorship of the Istanbul Chamber of Commerce should be taken with a generous pinch of salt such are the difficulties of pinning down verifiable information in the Middle East’s largest economy, elusive at the best of times.
This being the case, electricity consumption is often seen as a more reliable indicator when it comes to getting some idea as regards the real level of industrial activity in the country.
4.2​ Inflation
Turkey's official consumer price annual inflation declined to a lower-than-expected 11.76% in July, the Turkish Statistical Institute (TUIK) said​ on August 4.
Due to backdoor monetary tightening, loan growth and the lira supply boom is losing some momentum, but the indicators for these still remain at incredible levels.
27​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com