The Turkish Statistical Institute (TUIK) has released its gross domestic product (GDP) results for the third quarter (July-September) of this year.
In the period July-September, the economy grew by 3.9 percent, a performance close to expectations.
Source: TURKSTAT
However, the economy contracted by 0.1 percent on a quarterly basis. For example, the economy contracted after 9 quarters.
The growth rate was the lowest since the second quarter of 2020.
FINANCIAL AND INSURANCE ACTIVITIES INCREASE BY 21.6 PERCENT
In the third quarter, of the activities that make up GDP, finance and insurance increased by 21.6 percent, information and communications by 13.9 percent, agriculture, forestry and fishing by 1.1 percent and industry by 0.3 percent. The construction sector, on the other hand, fell by 14.1%.
While household consumer spending grew by 19.9 percent, government consumer spending grew by 8.5 percent.
Follow News on social media
Follow News on social media
In the period July-September, the economy grew by 3.9 percent, a performance close to expectations.
Source: TURKSTAT
However, the economy contracted by 0.1 percent on a quarterly basis. For example, the economy contracted after 9 quarters.
The growth rate was the lowest since the second quarter of 2020.
FINANCIAL AND INSURANCE ACTIVITIES INCREASE BY 21.6 PERCENT
In the third quarter, of the activities that make up GDP, finance and insurance increased by 21.6 percent, information and communications by 13.9 percent, agriculture, forestry and fishing by 1.1 percent and industry by 0.3 percent. The construction sector, on the other hand, fell by 14.1%.
While household consumer spending grew by 19.9 percent, government consumer spending grew by 8.5 percent.
Follow News on social media
Follow News on social media