Turkey Economic Outlook
October 3, 2017The country’s upbeat economic performance throughout H1 was confirmed in mid-September as data showed the economy expanded 5.1% in annual terms in the second quarter. GDP growth in Q2 was buttressed by a surge in construction-related investment and noteworthy growth in exports, which benefited from robust European demand and soaring tourist arrivals. Solid leading data, coupled with a favorable calendar effect stemming from the slump caused by the failed coup d’état in July 2016, points to a similarly strong Q3 GDP outturn. Economic growth, however, is expected to cool as some of the government’s stimulus measures expire and the impact of the credit guarantee fund facility dwindles. On 27 September, the government announced it intends to increase some indirect taxes next year in a bid to reign in the fiscal deficit, which could also put a damper on growth to an extent.
Turkey Economy Data
5 years of Turkey economic forecasts for more than 30 economic indicators.
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|Bond Yield||11.00||0.46 %||Oct 16|
|Exchange Rate||3.65||0.31 %||Oct 16|
|Stock Market||106,474||0.23 %||Oct 16|
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Turkey Economic Growth
October 3, 2017Near-term economic prospects remain positive as the country benefits from an upturn in European demand for Turkish goods and a revival in the tourism sector. FocusEconomics panelists expect GDP to expand 4.8% in 2017. As growth-inducing policies draw to an end, however, growth is expected to shift into a lower gear. Panelists expect growth of 3.5% in 2018, which is up 0.1 percentage points from last month’s forecast.
Turkey Economic News
October 11, 2017
The current account balance recorded a USD 1.2 billion deficit in August, narrowing the gap from August 2016’s USD 1.4 billion shortfall.
October 9, 2017
Industrial production rose a calendar-adjusted 5.2% in August compared with the same month last year, which was below the 14.5% year-on-year jump recorded in July.
October 3, 2017
Consumer prices rose 0.65% in September over the previous month, marking the largest month-on-month increase since April and coming in slightly above the 0.52% increase recorded in August.
September 25, 2017
The Real Sector Confidence Index published by the Central Bank recorded a back-to-back increase in September, rising to 111.6 points from 110.7 points in August.
September 21, 2017
The consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, eased notably from 71.1 in August to 68.7 in September, the weakest reading since March.