Turkey’s 2024 Economic Calendar: August Data Storm Shakes Markets

Turkey’s financial calendar is set to erupt into a data storm this August.

August Data Avalanche

■Trade Minister Ömer Bolat will unveil July trade figures on 3 August in Istanbul.

■Exports rose %21.9 in June to reach $25 billion.

■TÜİK will release July inflation on 3 August: CPI monthly %0.99, Yİ‑CPI monthly %1.8; annual inflation %32.11.

■June industrial production index will be disclosed on 10 August; monthly %2.9 decline, unchanged YoY.

■June construction cost index will also be released that day.

Trade Winds

■Trade sales volume and turnover indices will be published on 11 August.

■Foreign trade indices will be released on 12 August.

■On 13 August, the Central Bank will publish the June current‑account balance: current‑account deficit $1.459 billion, surplus $3.626 billion.

Inflation and Market Reaction

■On 13 August, Central Bank Governor Fatih Karahan will present the Third Inflation Report.

■The report forecasts year‑end inflation at %26, 2027 end at %15, and 2028 end at %9.

■Markets will closely watch interest‑rate and monetary‑policy expectations.

Production and Labor Dynamics

■On 14 August, wage‑earning employment figures, service and construction production indices will be released: wage‑earning staff rose %0.5 YoY to 15,970,105.

■Second‑quarter labor statistics will be announced on 19 August.

■On 20 August, July foreign‑producer price index and June agricultural input price index will be disclosed.

Signals for Investors

■Consumer confidence index on 21 August hit 89.8, the highest since May 2023.

■Service, retail trade and construction confidence indices will be released on 25 August.

■Labor statistics and Q2 growth figures will be finalized on 31 August.

Turkey’s economy grew %2.5 in Q1 2024, with the unemployment rate falling to %7.6 in June. These figures will prompt investors to reassess risk and opportunity.