Macro and Politics

*TURKSTAT will release September Consumer Confidence Index @ 10:00 local time. The consumer confidence index increased from 83.5 to 84.3 level in August. It is important to underscore that the consumer confidence index — which ranges from 0 to 200 — signals pessimism when it falls below 100, and optimism when it exceeds that threshold. A breakdown of the August consumer confidence index reveals the following: The sub-index reflecting the financial situation of household at present increased 68.2 to 70, while the sub-index measuring financial situation expectation of household over the next 12 months eased from 84.6 to 83.8. Moreover, general economic situation expectation over the next 12 months decreased from 79 to 78.4 and finally, the sub-index tracking assessment on spending money on durable goods over the next 12 months — a key indicator of domestic demand — rose from 102.3 to 104.8 level in August.

* President Erdogan to meet the US President Trump on September 25. President Erdogan is planning to pay a visit to the United States on September 25, during which he will hold talks with the US President Trump at the White House. In a social media post, Trump remarked, ‘We have always enjoyed strong relations with President Erdoğan, and I very much look forward to welcoming him on the 25th. Erdoğan, for his part, noted that the agenda would encompass a broad range of issues, particularly trade, investment, and defense cooperation. He further expressed confidence that “our discussions with President Trump, within the framework of our shared vision for global peace, will contribute to efforts to end conflicts and hostilities in our region.”