White goods sales in Turkey moved up 22% y/y in January as anxious consumers rushed to stores to make “panic buys” ahead of possible government measures to curb credit card spending, according to trade group TURKBESD. Newly appointed central bank governor Fatih Karahan reiterated in February that the authority was keeping a close eye on credit card spending and was working on dealing with the issue. Karahan, however, did not say what actions might be taken in the face of the credit card spending spike that is concerning economic officials. Credit card spending leapt 126% y/y in January to TRY8…
