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Turkey Industrial Production & Retail Sales (Jun.)

Turkish industrial production and retail sales continued to rebound strongly in June but even so it looks like the slump in GDP over Q2 as a whole is likely to have been in the region of 20% q/q or so – one of the largest in the world. What’s more, the economic recovery will continue to be held back by weakness in the tourism sector as well as the recent tightening of monetary conditions.

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