A customer counts Turkish lira banknotes after visiting a currency exchange in Turkey. (Photographer: Kostas Tsironis/Bloomberg)

Turkey Is Probably Out of Recession, But Risks Double-Dip

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Turkey Is Probably Out of Recession, But Risks Double-Dip

Turkey’s economy entered a recession in the second half of 2018, but three gauges of economic activity suggest it likely exited the slump in the first quarter of this year. The recent wobble in the lira, though, could send the economy back into a downturn, according to Bloomberg Economics, which expects real GDP growth to shrink by 2% in 2019.

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