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Industry weakness, Q2 GDP & Turkey’s Bank re-shuffle

Q2 GDP data due next are likely to show that growth in Central Europe remained strong. But the slump in the region’s industrial production in June provided the first clear sign that weakness in the euro-zone is dragging manufacturing activity down, and surveys point to further weakness in Q3. Meanwhile, news today that several senior Turkish central bank officials were being side-lined reinforces the impression that the government is trying to take greater control of monetary policy.

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