On Q2 GDP Growth

TURKEY - In Brief 10 Sep 2013 by Murat Ucer
Today’s Q2 GDP growth came in at 4.4%, y/y, which was higher than the consensus forecast of some 3.5%, and our even softer estimate of 2.5%. Growth was driven by private consumption, government spending (notably investment) and inventory build-up, all of which turned out fairly stronger than our readings based on preliminary indicators.Two observations stand out.  First, demand composition is not particularly healthy. Government is still playing too much of a role in driving growth, private investment remains unusually weak for this stage of the recovery, and net foreign demand is turning rapidly negative.  Second, given a rougher environment overall in recent months, and some risks on the horizon, it wouldn’t surprise us to see renewed weakness in growth in the final quarter of the year. More analysis and pictures to follow shortly, in the form of a Market Brief.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2025 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.