BETAM Projects 1.3% Contraction in Turkey's Economy for Q3 Compared to Previous Year

BETAM expects the Turkish economy to contract by 1.3% in the third quarter of 2024 compared to the same quarter of the previous year. In the statement, it was noted, "Based on finalized GDP leading indicators for July, August, and partially released September data, we anticipate the Turkish economy to shrink by 1.3% in the third quarter of 2024 compared to the same quarter of the previous year. According to our calculations with data adjusted for seasonality and calendar effects, we forecast a 0.6% decrease in GDP for the third quarter of 2024 compared to the previous quarter."