Highlights and Data from Last Week's Economy

Highlights from Last Week in Global Markets

In a week filled with significant headlines affecting market dynamics, noteworthy data was released regarding the Turkish and global economy. Here are 7 important developments you should not miss:

1. Turkey's Third Quarter Growth: 3.7%

According to Turkish Statistical Institute (TÜİK), Turkey's Gross Domestic Product (GDP) grew by 1.1% compared to the previous period in the third quarter of 2023, resulting in an annual growth rate of 3.7%.

2. November Monthly Inflation Rate: 0.87%

TÜİK announced that the consumer price index (CPI) increase in November was 0.87%, with the annual inflation rate decreasing to 31.07% when compared to global inflation data.

3. Central Bank's Required Reserve Regulation

The Central Bank of the Republic of Turkey (TCMB) implemented new regulations on required reserve ratios to increase the liquidity of the banking system.

4. Rent Increase Rate Determined

Based on data from November's inflation, the increase rate for residential and commercial rents was established, clarifying the obligations of tenants.

5. Critical Inflation Data Released in the U.S.

Inflation indicators closely monitored by the Fed in the United States were released and had an impact on the markets.

6. DİSK's Minimum Wage Demand

The Confederation of Progressive Trade Unions of Turkey (DİSK) stated that the minimum wage should be increased by indexing it to 60% of per capita Gross Domestic Product (GDP).

7. OECD's Revision of Turkey's Economic Forecast

The Organisation for Economic Co-operation and Development (OECD) made upward revisions to Turkey's growth forecasts for 2025 and 2026. Inflation forecasts were also raised.