Turkey GDP Growth Eases In Q1

(RTTNews) - Turkey's economic growth moderated further in the first quarter of 2026, official data revealed Monday.

Gross domestic product posted an annual growth of 2.5 percent after rising 3.4 percent in the fourth quarter, the Turkish Statistical Institute said. The expected expansion was 2.7 percent.

The expenditure breakdown showed that the yearly growth of household final consumption eased to 4.8 percent from 5.2 percent, and government expenditure rose by 2.1 percent. The growth in investments moderated to 3.0 percent from 5.4 percent, and net foreign demand was not favorable as exports plunged 12.7 percent amid a 2.0 percent fall in imports.

Quarter-on-quarter, the economy grew 0.1 percent, slower than the 0.4 percent increase in the previous quarter.

Separate survey data from S&P Global showed that the Istanbul Chamber of Industry Manufacturing PMI rose to 49.8 in May from 45.7 in April. The latest reading was the highest since March 2024 and signaled a near stabilization of business conditions.

Among components, output returned to growth, and purchasing activity also rose due to safety stock building amid price and supply disruption caused by the war in the Middle East.