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.
Some analysts believe that spending was enough to boost growth in year-on-year terms in the quarter. The estimates in the survey ranged from 1.2% to as high as 5.3%. The president’s new economic team, led by Finance Minister Mehmet Simsek and central bank Governor Hafize Gaye Erkan, is trying to slow inflation of almost 50%, which has inflicted a severe cost-of-living crisis on Turks.
Leading indicators, including retail sales, suggested consumption remained strong in the second quarter, though industrial and export sectors slowed. Industrial production still shows limited recovery from February’s devastating earthquakes.“Disinflation and structural change in the economy will speed up,” he said in a post on social media platform X, formerly known as Twitter.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Yields set to fall & gold set to soarKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Lire la suite »
Russia says it will have talks with Turkey about alternative to Black Sea deal(Reuters) - Russian Foreign Minister Sergei Lavrov and Turkish counterpart Hakan Fidan will discuss a proposal by Moscow for an alternative to the ...
Lire la suite »
Sweden's economy shrinks in Q2, but less than fearedSTOCKHOLM (Reuters) - The Swedish economy shrank in the second quarter, primarily due to slower exports and decreased trade inventories, though the ...
Lire la suite »
These financial market signals are telling a different story about China's economy'The curious thing, though, is that such doom and gloom is not reflected in what the market is signaling,' Gavekal's Louis-Vincent Gave wrote.
Lire la suite »
Sweden's economy shrinks in Q2, but less than fearedMarket News
Lire la suite »
Germany agrees 7 billion euro tax cut to boost flagging economyBy Andreas Rinke and Maria Martinez MESEBERG, Germany (Reuters) - Germany's fractious coalition put aside weeks of squabbling on Tuesday, agreeing to ...
Lire la suite »