Companies / Turkey
Domestic Market Slips Further
February 2007 | BMI ViewTurkey's automotive market slumped 12.3% in 2006, while production rose 12.2%, indicating that the country's automotive manufacturing sector is increasingly export-oriented, according to BMI's latest Turkey Automotive Report. Weighing on consumer spending was the central bank's cumulative 450bps hike in its overnight lending rate in June-July in response to a spike in inflation and lira sell-off in May-June 2006.
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