Turkey | Sharp adjustment of domestic demand in 2018
Published on Monday, March 11, 2019 | Updated on Monday, March 11, 2019
Turkey | Sharp adjustment of domestic demand in 2018
Summary
Turkish Economy contracted by 3.0% yoy in 4Q18, slightly worse than expectations (-2.5% median vs. -2.2% BBVA Research). The economy technically entered into a recession as the QoQ contraction became deeper with -2.4% after -1.6% in 3Q18. We maintain GDP growth forecast at 1% for 2019 as recent impulses and base effects in the 2H19 may balance the poor performance of 1Q19.
Geographies
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- Türkiye
Topics
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- Macroeconomic Analysis
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Authors
Seda Guler Mert
BBVA Research - Chief Economist
Ali Batuhan Barlas
BBVA Research - Principal Economist
Adem Ileri
BBVA Research - Principal Economist
Alvaro Ortiz
BBVA Research - Head of Analysis with Big Data
Serkan Kocabas