Turkey | Still high 1Q GDP but already moderating
Published on Tuesday, June 12, 2018
Turkey | Still high 1Q GDP but already moderating
Summary
GDP grew by 7.4% (YoY) in 1Q18 above both consensus and our expectation (7% vs. 6%). The acceleration in growth on quarterly basis was surprising (2% vs 1.7% in 4Q), mainly supported by the boost in private consumption and the recovery in investment. We forecast 2018 GDP growth to be 3.5-4.0% as we expect adjustment of the economy to become more obvious from now onwards.
Geographies
- Geography Tags
- Türkiye
Topics
- Topic Tags
- Macroeconomic Analysis
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Authors
Ali Batuhan Barlas
BBVA Research - Principal Economist
Seda Guler Mert
BBVA Research - Chief Economist
Adem Ileri
BBVA Research - Principal Economist
Serkan Kocabas
Alvaro Ortiz
BBVA Research - Head of Analysis with Big Data