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EUR 137.69
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• We observe that Turkey’s y/y GDP growth momentum has remained at around -5% y/y as of December, driven by a further decline in both consumption and investments, which seem to have dropped by some 7% and 14% y/y as of December, respectively. With the alleviating impact of net exports, we forecast that Turkey’s GDP may have contracted by up to 5% y/y in 4Q18. This would suggest a GDP growth of around 2% for full-year 2018, lower than the c.3% expectations. Indicators that we have as of today suggest some recovery on the investments side but no meaningful change in consumption, still indicating to mid-single digit GDP contraction momentum as of early 1Q19.
BGC Partners - PICTURING TURKEY REPORT - GDP may have contracted by up to 5% y/y in 4Q18
PICTURING TURKEY REPORT - GDP may have contracted by up to 5% y/y in 4Q18• We observe that Turkey’s y/y GDP growth momentum has remained at around -5% y/y as of December, driven by a further decline in both consumption and investments, which seem to have dropped by some 7% and 14% y/y as of December, respectively. With the alleviating impact of net exports, we forecast that Turkey’s GDP may have contracted by up to 5% y/y in 4Q18. This would suggest a GDP growth of around 2% for full-year 2018, lower than the c.3% expectations. Indicators that we have as of today suggest some recovery on the investments side but no meaningful change in consumption, still indicating to mid-single digit GDP contraction momentum as of early 1Q19.
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BGC Partners
BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.
We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:
- Mergers & Acquisitions
- Equity Capital Markets
- Debt Finance & Advisory
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