Turkey's growth expectation survey released: 17 institutions participated

The median estimate of 19 institutions participating in the Bloomberg HT survey is that the Turkish economy will grow by 3.5 percent year-on-year in the fourth quarter of 2023.

The quarterly growth expectation for the fourth quarter was 0.2 percent, based on the participation of 11 institutions. While the maximum expectation was 1.3 percent growth, the lowest estimate on a quarterly basis pointed to a 0.4 percent contraction.

The growth expectation for the full year of 2023 was 4.3 percent with the participation of 17 institutions. The maximum expectation was 4.7 percent, while the minimum expectation was 3.9 percent.

According to the survey, the institution providing the lowest estimate expects 2.1 percent year-on-year growth for the fourth quarter, while the institution providing the highest estimate expects 4.7 percent growth.

2024 MEDIAN GROWTH EXPECTATION IS 3.4 PERCENT

On the other hand, 19 participants were also asked for their growth forecasts for the full year of 2024. The median growth forecast for the year among the 17 economists who submitted their estimates was 3.4 percent. The highest forecast was 4.5 percent, while the lowest expectation was recorded at 2 percent.

The Turkish economy grew by 5.9 percent in the third quarter of 2023, with household consumption making the highest contribution to growth at 7.7 percentage points.

Growth data will be released on Thursday.

News Source: 12punto