Growth picks up sequentially in Q2

TURKEY - Report 31 Aug 2022 by Murat Ucer

The Turkish economy grew by 7.6%, y/y, and 2.1%, q/q. While annual growth is broadly in line with expectations, quarterly or sequential growth (calendar- and seasonally-adjusted) presents a somewhat different picture than envisaged, with growth momentum picking up noticeably over the previous quarter (Graph 1). This is now all the more so, given that Q1 growth has been revised down to 0.7%, q/q, from 1.2%, previously.

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