Turkey's Q2 economic growth surpasses forecasts
Turkey's economy showed a growth rate of 1.1% during the second quarter of 2026, surpassing analysts' expectations of 1%, with a total gross domestic product (GDP) of $1.7 trillion. Year-over-year, growth slowed to 2.3% compared to 2.6% in the previous quarter, with a decline in household consumption growth to 3.5% from 5.1%. The economy is expected to grow by 2.9% by the end of the year, amid ongoing slowdown in economic activity and a decrease in inflation. The Central Bank has also adjusted interest rates from 40% to 37%, and future rate-cut decisions are anticipated to depend on the impact of domestic demand on inflation.
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