Turkey: V-shaped Growth Recovery on Revisions and Consumption
Published on Friday, March 31, 2017 | Updated on Friday, March 31, 2017
Turkey: V-shaped Growth Recovery on Revisions and Consumption
Summary
4Q16 GDP grew by 3.5% YoY, significantly above the market and our expectation of 1.9%. Accordingly, full year GDP growth came in at 2.9%. Surging private consumption and much higher than expected growth in industry were the main sources of our bias. Our monthly GDP model signals a further recovery in 1Q17, suggesting a v-shaped recovery after the slump in 3Q16.
Geographies
- Geography Tags
- Türkiye
Topics
- Topic Tags
- Macroeconomic Analysis
Authors
Ugur Kucuk
Seda Guler Mert
BBVA Research - Chief Economist
Asuman Kemiksiz
Gizem Onen