GDP Growth and Potential Output in Turkey
It is strange to see that economists taking part in analyzing Turkey do not have a consensus about the third quarter growth projections. Turkey reported a year-over-year growth rate of 2.1% in the second quarter in which exports as a positive contributor to the growth surprised to the upside while investment significantly remained weaker. On quarterly basis Turkey grew by 5% after reporting a contraction of 6.2% in the first quarter of the year. The bullish side thinks...
Industrial Production Fluctuates Due to Holiday Effect
Industrial production in October posted 3.1% decline mom, and 0.5% yoy, thus staying below the market consensus of 2.0%. Seasonally and calendar adjusted production was up 0.7% also missed expectations of 3.4%. As the discrepancy arises out of the nationwide one-week lasting holiday, the data confirmed to question whether the economy maintains strong growth.
To get data explained in detail, the weakening mostly stemmed from a 7.4% decline in mining sector yoy and 0.9% decline in manufacturing....