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Turkey Industrial Production & Retail Sales (Nov.)

Turkey’s industrial production and retail sales figures for November indicate that the economic recovery remained strong in the middle of Q4. But more timely indicators suggest that a combination of a tightening of virus containment measures and weaker credit growth caused a sharp slowdown in activity in the final month of 2020 that is likely to carry through to the start of this year.
Jason Tuvey Senior Emerging Markets Economist
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