Strong U.S. employment report brightens economic outlook
More than a million Turks gathered in Istanbul on Sunday for a rally called by President Tayyip Erdogan to denounce a failed coup - a show of strength staged in the face of Western criticism of widespread purges and detentions.
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But a broad measure of unemployment that includes people who want to work but have given up searching and those working part-time because they cannot find full-time employment rose one-tenth of a percentage point to 9.
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Amid the cooling of ties with the West, Erdogan is due to meet Russian President Vladimir Putin on Tuesday in St Petersburg for talks intended to end a period of tension after Turkey downed a Russian fighter jet near the Syrian border last November.
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central bank raised interest rates for the first rise in nearly a decade last December, but since then has held rates steady amid concerns over persistently low U. inflation and a global economic growth slowdown.
employment rose more than expected for the second month in a row in July and wages picked up, bolstering expectations of faster economic growth, and raising the probability of a Federal Reserve interest rate increase this year.
But, the story doesn't stop there, and the recent trends might say, even the Greece property market was about to experience a major boom due to the greater keenness being shown by the foreign buyers. The nation's timeless ancient history and its unharmed natural landscape, provide with the needed pull for drawing in millions of visitors to its soil each year. Greece doesn't require any introduction, when it comes to speaking about its role in the worldwide tourism.
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Even Erdogan's opponents saw his continued leadership as preferable to a successful coup renewing the cycle of military interventions that dogged Turkey in the second half of the 20th century. The brutality of July 15, in which more than 230 people were killed as rogue soldiers commandeered fighter jets, helicopters and tanks, shocked a nation that last saw a violent military power grab in 1980.
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