ISTANBUL – Turkey’s economy entered its first recession since 2009,official data showed on Monday, three weeks before President Recep TayyipErdogan’s government faces local elections where growth and inflation willbe key issues for voters.
Economic output contracted by 2.4 percent in the final three months of theyear compared to the third quarter on a seasonally and calendar-adjustedbasis, the Turkish Statistics Institute (TUIK).
That followed a drop in the third quarter as well.
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Two consecutive quarter-on-quarter contractions in economic output iswidely considered to be the definition of a recession. – APP/AFP
