On Q1 GDP (and a bit more)

TURKEY - Report 31 May 2022 by Murat Ucer

The Turkish GDP grew by 1.2%, q/q, and 7.3%, y/y, in the first quarter of the year (see chart), broadly in line with the consensus forecast. As regards the demand composition of growth, it is worth emphasizing at the outset that the year-on-year versus quarter-on-quarter figures yield starkly different pictures.

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