Turkey’s Economy Slips into Recession #

Turkey’s economy fell into a recession during the summer as high interest rates curtailed economic activity in the nation. This economic downturn occurred amid efforts to control inflation. Gross domestic product contracted by 0.2% on a quarterly basis from July to September. This matches the decline of the previous quarter, which was adjusted downward. A recession typically indicates two consecutive quarters of reduced economic output, reflecting a sustained period of negative growth in the economic environment.