However, exports and the trade balance increased simultaneously only in two phases, in  1  According to the Monthly Labour Survey, summer bonus payments in 2015 (special cash earnings for the June-August period) were minus 3.3 percent on a year-on-year basis.
And it may have raised our economy’s production capacity, although we cannot be sure by how much. Given the current momentum in our economy and the high levels of activity that we are seeing, and because of the uncertainty surrounding the conventional estimates of potential output, monetary policymakers must be on guard.