Great Recession in Europe

EU auto sales slumped by 14 percent in the first half of this year, data showed on July 15, as supply shortages continued to plague manufacturers.

With the lack of computer chips still hobbling production, new auto sales slumped to 4.6 million in the European Union, data from the European Automobile Manufacturers Association showed.

Türkiye's industrial production increased by 9.1 percent in May from a year ago, after rising 10.8 percent in the previous month, data from the Turkish Statistical Institute (TÜİK) showed yesterday.

On a seasonally and calendar adjusted basis, the country's industrial output rose 0.5 percent in the month from April, TÜİK said.

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.

Authorities will release crucial economic data this week, including growth for the first quarter and inflation for May.

On May 31, the Turkish Statistical Institute (TÜİK) will release the gross domestic product (GDP) figures for January-March.

The International Monetary Fund on April 19 downgraded the outlook for the world economy this year and next, blaming Russia's war in Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants.

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.

The U.S. economy ended 2021 by expanding at a brisk 7 percent annual pace from October through December, the government reported Thursday in a slight upgrade from its earlier estimate as businesses stepped up their restocking of supplies.

Spain's economy grew by 5.0 percent in 2021, showing a remarkable bounceback from a year earlier but below the government's target, an initial estimate by the National Statistics Institute (INE) showed on Jan. 28.

There is a continued decline which led directly to a 20 percent fall in share price off of the news