Turkish Growth Set for Lowest in Years as More Rate Hikes Loom
- Growth slowed to 3.1% in second quarter, according to survey
- Goldman says $900 billion economy could soon enter recession
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Turkey’s economy probably slowed in the second quarter, with activity set to remain subdued for the rest of the year as officials seek to put growth on a more sustainable footing by raising interest rates.
Gross domestic product likely expanded 3.1% year-on-year, according to the median forecast in a Bloomberg survey of analysts, the weakest level since the Covid-19 pandemic and down from 4% between January and March. The Turkish Statistical Institute will announce the figures around 10 a.m. local time on Thursday.