Categories Economy Finance HIGHLIGHTS Y.F. Macro Focus: CA gave deficit again after 3-month long surpluses Cem CetingucPosted on13 January, 2022 In November , the CA posted a monthly deficit of USD2.7bn (Consensus: USD -2.2bn, YF: … Continue ReadingY.F. Macro Focus: CA gave deficit again after 3-month long surpluses
Categories Business Finance HIGHLIGHTS BIST Foreign Transactions Report Cem CetingucPosted on7 January, 2022 BIST released December foreign transaction figures, accordingly, a net outflow of USD1.03bn was recorded. The … Continue ReadingBIST Foreign Transactions Report
Categories Business Economy Finance HIGHLIGHTS Macro Snapshot: CUR, RSCI and Sectoral Confidence Indices Cem CetingucPosted on28 December, 2021 SA CUR increased by 0.8pps 78.4% in December. In Q4, SA manufacturing CUR increased by … Continue ReadingMacro Snapshot: CUR, RSCI and Sectoral Confidence Indices
Categories Economy Finance HIGHLIGHTS Macro Snapshot: Consumer Confidence Index Cem CetingucPosted on22 December, 2021 In December, CCI decreased by 3.1% MoM to 68.9 (November: 71.1) which was the lowest … Continue ReadingMacro Snapshot: Consumer Confidence Index
Categories Economy Finance HIGHLIGHTS Macro Snapshot: Outstanding External Loans Received by Private Sector Cem CetingucPosted on16 December, 2021 In October, private sectors’ outstanding ST debt (included trade credits) increased by USD6.4bn to USD48.6bn … Continue ReadingMacro Snapshot: Outstanding External Loans Received by Private Sector
Categories Economy HIGHLIGHTS Macro Focus: Upside risks persist as inflation figures approach to record levels Cem CetingucPosted on4 December, 20214 December, 2021 Turkey’s CPI increased by 3.51% MoM in November driving YoY CPI from 19.89% to 21.31%. Accordingly, … Continue ReadingMacro Focus: Upside risks persist as inflation figures approach to record levels
Categories Economy Finance General HIGHLIGHTS Macro Snapshot: Manufacturing PMI increased to 52 in November Cem CetingucPosted on1 December, 2021 Manufacturing PMI increased to 52 in November (Prior: 51.2). Headline figure continued to remain above … Continue ReadingMacro Snapshot: Manufacturing PMI increased to 52 in November
Categories General Macro Snapshot: CUR, RSCI and Sectoral Confidence Indices Cem CetingucPosted on24 November, 2021 In November, manufacturing CUR, RSCI and sectoral confidence (except service sector) indices recorded increases. Seasonally … Continue ReadingMacro Snapshot: CUR, RSCI and Sectoral Confidence Indices
Categories General Macro Focus | CBRT: Expected cut with delayed announcement Cem CetingucPosted on22 November, 2021 CBRT cut the policy rate by 100bps to 15%, as expected. The announcement was made with … Continue ReadingMacro Focus | CBRT: Expected cut with delayed announcement
Categories Economy HIGHLIGHTS Macro Focus: In 10M21, only 1/3 of the budget deficit target completed Cem CetingucPosted on15 November, 2021 In October, budget gave a deficit of TRY17.4bn (Oct.20: TRY-4.9bn, Sep.21: TRY-23.6bn). Despite, there was no … Continue ReadingMacro Focus: In 10M21, only 1/3 of the budget deficit target completed
Categories Economy Finance Macro Focus: High single or double digit level of economic growth probable in 3Q21 Cem CetingucPosted on12 November, 2021 In September, IP decreased by 1.5% MoM, but increased by 8.9% YoY. According to the consensus, … Continue ReadingMacro Focus: High single or double digit level of economic growth probable in 3Q21
Categories Economy Finance Macro Focus: CA surplus continued for the second month in a row Cem CetingucPosted on12 November, 2021 In September, the CA posted a monthly surplus of USD1.7bn (Consensus: USD +1.3bn, YF: USD … Continue ReadingMacro Focus: CA surplus continued for the second month in a row
Categories Economy Macro Snapshot: CUR, RSCI and Sectoral Confidence Indices Cem CetingucPosted on27 October, 2021 SA CUR decreased by 0.3pps 77.5% in October after 4-month long surge. In October, 3-month … Continue ReadingMacro Snapshot: CUR, RSCI and Sectoral Confidence Indices
Categories Business Economy Macro Snapshot: Foreign Trade Statistics Cem CetingucPosted on27 October, 2021 Foreign trade deficit decreased by 47.5% YoY to US2.5bn in September (Aug.21: USD-4.3bn, Sep.20: USD-4.9bn) … Continue ReadingMacro Snapshot: Foreign Trade Statistics
Categories Economy Finance Macro Snapshot: Net FX Position of Non-Financial Companies Cem CetingucPosted on5 October, 2021 In July, net FX position of the non- financials was decreased by USD5.6bn to USD57.6bn with … Continue ReadingMacro Snapshot: Net FX Position of Non-Financial Companies
Categories Company & Industry Economy Macro Snapshot: Manufacturing PMI, September 2021 Cem CetingucPosted on4 October, 2021 Manufacturing PMI was 52.5 (Prior: 54.1) in September and 53.5 in (2Q21: 50,3, 3Q21: 54,7). … Continue ReadingMacro Snapshot: Manufacturing PMI, September 2021
Categories Economy Macro Snapshot: Foreign Trade Statistics Cem CetingucPosted on1 October, 2021 Foreign trade deficit decreased by 32.4% YoY to US4.3bn in August and decreased by 4.2% … Continue ReadingMacro Snapshot: Foreign Trade Statistics
Categories Business Company & Industry Company Update – ARCLK: Fortune favors Arcelik Cem CetingucPosted on1 October, 20211 October, 2021 Strong demand outlook continues in main markets After the significant rebound in 2H20, white goods … Continue ReadingCompany Update – ARCLK: Fortune favors Arcelik
Categories Economy Finance Macro Snapshot: Turkey Consumer Confidence Index, September 2021 Cem CetingucPosted on23 September, 2021 In September, CCI decreased by 1.8% MoM to 79.7 (August: 78.2). According to 3-month average … Continue ReadingMacro Snapshot: Turkey Consumer Confidence Index, September 2021
Categories Business Finance Y.F. Equity Strategy Report: Running to stand still Cem CetingucPosted on21 September, 202121 September, 2021 We are moving our BIST-100 target to 1,875 (previously 1,750), while underlining risks that lower … Continue ReadingY.F. Equity Strategy Report: Running to stand still
