In economic data, the HSBC Turkey Manufacturing PMI fell to 51.1 in May from 5.13 the previous month, signaling a stagnation in production levels at Turkish manufacturing companies.
Turkey has been experiencing a gradual, U-shaped recovery, said Melis Metiner, Economist at HSBC, according to WSJ.com’s MoneyBeat blog. That recovery includes a pickup in some consumption indicators, but a disappointing industrial sector, she said. “This picture would argue for further monetary easing, but the recent lira weakness could limit the central bank’s room for maneuver,” Metiner said.
iShares MSCI Turkey ETF
