In technical recession, light

TURKEY - Report 29 Nov 2024 by Murat Ucer

In the third quarter, Turkish GDP rose by 2.1% over the same quarter of the previous year, but contracted slightly by 0.2% (sequentially) over the previous quarter in calendar- and seasonally-adjusted (SA) terms. With the downward revision of the second quarter sequential growth rate to -0.2%, q/q, from +0.1%, q/q, previously, this means that the Turkish economy was in “technical recession” during Q2-Q3, albeit a shallow one (Graph 1). (As usual, we focus on sequential data here and provide the annual figures in the tables below for reference).

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