Araştırma / İngilizce Raporlar

Activity Pulse

09 Ekim 2017, 12.35

In August, industrial production (IP) growth came in at 5.2% yoy (cal.adj.), consistent with market expectations. The realization took the IP growth up to 9.8% yoy in July-August period, a sharp acceleration from 2Q’s 4.6%. In addition, retail sales index’ growth rate accelerated further in August, taking the average growth of 3Q’s first two months up to 2.6% yoy from 2Q’s weaker 0.7% rate. Electricity production in 3Q posted its strongest growth rate (12.2%) in the last 28 quarters. Having this information at hand and another base impact in September, our monthly GDP indicator (GBTRGDPY Index at Bloomberg) nowcasts 8.2% growth for 3Q (26% information for September). Considering 3Q’s significant improvement, we will revise our 2017 growth expectation soon upwards (from current 5%), despite bearing in mind some moderation in Q4.


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