Turkey | Sharper than expected adjustment in 3Q GDP

Turkish Economy grew by 1.6% in yoy in 3Q18, failing to satisfy expectations (2.2% Consensus and BBVA-Research). Quarterly growth rate (sca) realized as -1.1%, which signals that adjustment in the economy becomes faster and is likely to deepen further. We maintain our GDP growth estimate at 3% for 2018, while risks are on the downside for our 2019 growth forecast of 1%.

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