Economic history of Europe

Industrial production increased by 1.1 percent in January from a year ago, according to the numbers of the Turkish Statistical Institute (TÜİK).

Mining and quarrying production rose by 4.9 percent, while the annual increase in the electricity, gas, steam and air conditioning supply was 8.4 percent, TÜİK said on March 12.

Türkiye's industrial production increased by 0.6 percent in June from a year ago, after rising 0.2 percent year-on-year in the previous month.

Industrial output shrank 1.2 percent on an annual basis in April.

Türkiye's industrial production shrank by 0.2 percent in May from a year earlier, data from the Turkish Statistical Institute (TUİK) have shown.

The pace of annual decline in industrial output, however, eased from 1.2 percent in April.

The annual contraction in production was in line with market expectations.

Retail sales volume has increased by 21.5 percent in February from the same month of last year, data from the Turkish Statistical Institute (TÜİK) have shown.

This was lower than the 34 percent year-on-year increase in retail sales in January. Strong earthquakes hit several provinces in Türkiye's south in early February, which devastated businesses and killed more than 50,000 people.

The headline construction cost index increased by 3.97 percent on a monthly basis in May, easing from the 6.12 percent rise in the previous month, data from the Turkish Statistical Insitute (TÜİK) have shown.

The annual increase in the construction cost index also slowed from 106.6 percent in April to 105.7 percent, TÜİK said.

Industrial production that increased by 9.8 percent in March rose by another 10.8 percent on an annual basis in April, while retail sales grew nearly 15 percent, the Turkish Statistical Institute (TÜİK) said yesterday.

The country's industrial output grew 7.6 percent and 13.3 percent in January and February, respectively.

Turkey's industrial production rose by 13.3 percent on an annual basis in February, gathering pace from the 7.6 percent year-on-year increase recorded in the previous month, data from the Turkish Statistical Institute (TÜİK) have shown.

The February reading was also above the 8.9 percent rise in the country's industrial output in February 2021.

Retail prices in Istanbul, Turkey's largest city by population, rose 1.52 percent month-on-month in July, data from the Istanbul Chamber of Commerce (İTO) have shown.

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Housing expenses increased by 4.67 percent last month from June while the increase in food prices in the country's commercial and financial center was 1.15 percent.

The next five years could prove pivotal for the Greek economy as the government seeks via its National Recovery and Sustainability Plan to utilize resources from the European Union's Recovery Fund amounting to 32 billion euros - which could reach €45 billion together with private funds - and power the country's GDP to a new level.

Europe needs a huge amount of money to deal with the pandemic and its consequences. Just as urgently, it needs to establish the mechanisms to collect and distribute those funds.