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Turkey’s economy contracted 11.8 pct in second quarter: report

Turkey's economy contracted nearly 12 percent in the second quarter due to the coronavirus lockdown, a Reuters poll showed on Friday.The figure indicates the...

Turkish economy expected to contract this year, rebound next: Reuters poll

Turkey’s economy is expected to contract this year for the first time in more than a decade as the coronavirus pandemic and related restrictions...

European bank expects Turkey’s economy to contract 3.5 pct by yearend: report

The European Bank for Reconstruction and Development (EBRD) said on Wednesday it expects Turkey's GDP to contract by 3.5 percent in 2020 due to the coronavirus...

Turkish economy expected to contract less than predicted, says OECD

Turkey’s economy is expected to contract by 0.3 percent this year, the Organisation for Economic Cooperation and Development (OECD) said in its latest global economic outlook,...

Contraction in Turkish construction sector to continue despite slight improvement: report

The outlook will remain negative for Turkey’s construction sector in the coming quarters even though new construction orders saw a month-on-month increase in July and August, according...

Turkish economy contracted less than expected in Q2: report

The Turkish economy contracted less than expected in the second quarter, 1.5 percent year-on-year, as it looks to shake off the effects of a recession brought...

Turkish economy shrinks 2.6 percent in first quarter as recession bites

The Turkish economy contracted 2.6 percent year-on-year in the first quarter, in line with expectations, as the official data reinforced the country’s slide into recession after last...

Turkish consumer confidence plunges to lowest level on record

Turkey’s consumer confidence dropped to the lowest level on record in May, dampening hopes for a sustainable economic recovery in the country, the Ahval news website reported...

OECD foresees sharper contraction in Turkish economy for 2019

The Organization for Economic Co-operation and Development (OECD) has revised its projection for Turkey’s GDP, forecasting a 2.6 percent contraction in 2019 instead of the previously anticipated...

Goldman Sachs lowers expectations for Turkey’s contraction in 2019

Goldman Sachs, a global investment bank and financial services company, has lowered its expectations for the Turkish economy’s contraction at yearend 2019 from 1.5 percent to...

Turkish automotive market contracts by 44 percent in first quarter of 2019

Figures from Turkey’s Automotive Distributors Association (ODD) have revealed that in the first quarter of 2019 the sale of passenger cars and commercial vehicles has dropped 44.2...

Turkish economy to shrink 1.8 percent in 2019: OECD

The Organization for Economic Co-operation and Development (OECD) has revised its 2019 forecast for Turkey’s GDP growth, predicting a sharper downward trend than in...

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