The Turkish economy is worse than expected .. Slow growth and collapse of the currency

Decrease of 3% in the last quarter of 2018 and weak domestic production

Turkey's economy shrank 3 percent year-on-year in the fourth quarter of 2018, compared with a contraction of 2.7 percent forecast by Reuters, according to official data released on Monday.

As the Turkish currency lost 30% of its value last year, the economy grew by 2.6% in 2018, the slowest growth since 2009, and the survey projected a growth of 2.55%.

Data from the Turkish Institute of Statistics showed a contraction in GDP in the fourth quarter, after adjusting for seasonal factors and timing of 2.4% compared to the previous quarter.

The figures show that the economy grew 1.8% in the third quarter, exceeding the preliminary estimate of 1.6%.

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Decrease of 3% in the last quarter of 2018 and weak domestic production

Turkey's economy shrank 3 percent year-on-year in the fourth quarter of 2018, compared with a contraction of 2.7 percent forecast by Reuters, according to official data released on Monday.

As the Turkish currency lost 30% of its value last year, the economy grew by 2.6% in 2018, the slowest growth since 2009, and the survey projected a growth of 2.55%.

Data from the Turkish Institute of Statistics showed a contraction in GDP in the fourth quarter, after adjusting for seasonal factors and timing of 2.4% compared to the previous quarter.

The figures show that the economy grew 1.8% in the third quarter, exceeding the preliminary estimate of 1.6%.