Reported 4 months ago
Turkey's economy is expected to have experienced a growth in the first quarter driven by consumer spending, unaffected by aggressive interest-rate hikes meant to curb domestic demand. The surge in spending, fueled by expectations of a currency slump, has led to a likely temporary economic boost before a slowdown. Despite rising inflation and policy changes, consumer confidence remains high, with concerns shifting towards a possible decrease in demand and lower economic growth rates ahead.
Source: YAHOO