Manufacturing PMIs for September were a mixed bag, but continued to paint a weak picture of industrial activity in Turkey, Czechia and Poland in Q3. In contrast, the downturn in Russian industry appears to have bottomed out. Elsewhere, a large increase in electricity and gas prices pushed inflation in Turkey up to 83.5% y/y in September. We think inflation will rise a bit further but with President Erdogan calling for further easing the central bank is likely to deliver another interest rate cut this month.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services