Business cycle

Economists have lowered their expectations for China's full-year GDP growth following the release of disappointing economic data over the weekend, NBC reports. Eswar Prasad, a professor of international trade and economics at Cornell University, highlighted that Beijing's outlook for the second half of the year is now "flashing red, or pretty close to red."

The Munich-based Ifo Economic Research Institute expects zero growth for the German economy this year, which today revised its previous estimate of 0.4% growth.

Türkiye's total machinery exports, including free zones, amounted to $15.8 billion in the January-July period, according to the Machinery Exporters Association (MAİB) on Monday.

The decline of 2.2 percent compared to the same period last year was calculated as 0.9 percent for the exports in the previous 12 months, which reached $27.8 billion.

Industrial production fell by 4.7 percent year-on-year in June after inching up 0.1 percent in the previous month, data from the Turkish Statistical Institute (TÜİK) have shown.

In April, the annual decline in industrial output was 0.7 percent.

Most equities rallied Tuesday after the previous day's global rout fuelled by U.S. recession fears that have led to calls for the Federal Reserve to cut interest rates before its next meeting.

Tokyo, which suffered a record loss Monday, led the gains as it soared more than 10 percent as traders bought beaten-down stocks caught up in a catastrophic day for markets.

Tokyo led a collapse across Asian and European equities on Monday, after weak U.S. jobs data fanned fears of a recession in the world's top economy and boosted bets on several Federal Reserve interest rate cuts.

The benchmark Nikkei 225 index plunged 12.4 percent, or 4,451.28 points, to 31,458.42, its largest points drop in history.

A series of positive economic indicators affirms the dynamic growth of the Greek economy, which expanded at a rate of 2.1% in the first quarter of the year

Legislation has mandated cuts in serials, broadcasts, and salaries to stabilize the TV industry, prevent a production bubble, and curb excessive earnings. The three major stations have agreed, leading some to exit and others to relocate to Turkey.

The industry in Bulgaria is feeling the effects of the declining European economy, with reports indicating a contraction in various sectors. In April, calendar-adjusted data showed a 0.3% decrease compared to the previous year.

Fitch Ratings as upgraded Cyprus' long-term foreign currency issuer default rating from BBB to BBB+ with a positive outlook.