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Turkish economy returns to growth, expanding 0.9 percent year-on-year in Q3

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Turkey's economy grows 0.9 percent year-on-year in third quarter of 2019, breaking three consecutive quarters of contraction

In this August 15, 2018 file photo, a worker at a currency exchange shop exhibits Turkish lira banknote in Istanbul.

A Reuters poll forecast the economy would expand 1 percent year-on-year in the third quarter. It also predicted that the economy will grow 0.5 percent in 2019 as a whole. In late October, the central bank slashed its policy rate more than expected to 14 percent, continuing an aggressive bout of cuts from 24 percent since July to help revive the recession-hit economy.

 

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