According to the Daily News, this is the Erdem Basci effect, although they do not exactly put it that way.
Despite the gloomy tone, TEA preliminary exports look marginally less gloomy than before, as the graph below illustrates:
This is what mathematicians refer to as the second derivative turning positive, i.e. the rate of the decline decreased in June. In all the sectors but agriculture, where there weren't large export declines in the first place, we have seen a lower yoy contractions. But it is not appropriate to rejoice yet, as the first derivatives are still significantly negative.
BTW, as you can see, I have started to make use of my new toy, as I got my official training today. I hope to make the blog more colorful with such charts in the future.
Despite the gloomy tone, TEA preliminary exports look marginally less gloomy than before, as the graph below illustrates:
This is what mathematicians refer to as the second derivative turning positive, i.e. the rate of the decline decreased in June. In all the sectors but agriculture, where there weren't large export declines in the first place, we have seen a lower yoy contractions. But it is not appropriate to rejoice yet, as the first derivatives are still significantly negative.
BTW, as you can see, I have started to make use of my new toy, as I got my official training today. I hope to make the blog more colorful with such charts in the future.
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