Recessions

Annual decline in industrial production accelerated, but the unemployment rate fell for a second month in a row in August, separate data from the Turkish Statistical Institute (TÜİK) showed on Oct. 10.

Output in the key industry sector dropped by 5.3 percent year-on-year, after contracting 5 percent annually in July.

Chinese leaders are considering pumping more than $140 billion into the country's large state-run banks in the first such move to support the flagging economy since the global financial crisis, a report said on Thursday.

Data from the Central Bank have shown that the capacity utilization rate (CUR) in the key manufacturing sector declined, while the real sector confidence index dropped to its lowest level since December 2022.

Manufacturing companies worked at 75.4 percent capacity in August, down from 75.9 percent in the previous month, the bank said on Aug. 26.

Chinese retail sales rebounded in July while industrial production growth slowed, official data showed on Thursday, highlighting an uneven recovery in the world's second-largest economy.

Residential property sales in Türkiye jumped 16 percent from a year ago in July, according to latest data released on Tuesday while sales to foreigners increased by 16.1 percent.

A total of 127,088 houses changed hands last month, up from 109,548 in July 2023, a Turkish Statistical Institute (TÜİK) report showed.

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.

Several key macroeconomic data will be released this week, including current account, industrial production and unemployment rate.

A survey by the Turkish Statistics Institute (TÜİK) has shown that confidence in the economy further eroded.

The economic confidence index declined for a third month in a row, falling 2.5 percent month-on-month to 95.8 in June, the statistics authority said on June 27.

The gauge of confidence was down 1 percent in April and declined 0.8 percent in May.

Consumer morale declined for the first time since February in June as households' expectations for the general economic outlook and their financial situation deteriorated.

Total passenger traffic at Greek ports in the fourth quarter of 2023 recorded an increase of 11.1% compared with the fourth quarter of 2022.

An increase of 19.1% was recorded in the corresponding comparison of the fourth quarter of 2022 with the fourth quarter of 2021, the Hellenic Statistical Authority (ELSTAT) said on Monday.