Q3 growth: surprisingly strong

TURKEY - Report 01 Dec 2025 by Murat Ucer

The Turkish economy expanded by 1.1%, q/q, and 3.7%, y/y, in the third quarter of the year, with the quarter-on-quarter (sequential) growth rate exceeding forecasts quite visibly, including our expectation of positive yet anemic growth in the quarter. What is more, all demand engines were ramped up and all sectors, barring a few (namely, agriculture, administrative support services), posted positive growth rates.

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