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BGC Partners: PICTURING TURKEY - Some recovery in January but not out of the woods yet
• In this edition, we observe that Turkey’s y/y GDP growth momentum has recovered towards -1% y/y as of January 2019, driven by continued significant support from net exports as well as increased state expenditures as seen in the budget figures. Otherwise, despite some improvement from 4Q18 lows, both consumption and investments remained in deep contraction territory, which seem to have dropped by some 4% and 9% y/y as of January, respectively. Indicators that we have as of today suggest a mild recovery in consumption but not much in investments, while the contribution of net exports is also set to gradually decline as of February.
Provider
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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