Economic Growth and Forecasts: February 2021

High Growth Despite The Pandemic

Ozan Bakış, Gökhan Dilek

In the light of fully-released October, November, and December leading indicators, we expect GDP to expand by 6.7 percent on a year-on-year basis for the fourth quarter of 2020. According to seasonal and calendar adjusted data, we forecast quarter-on-quarter GDP growth to be 3.5 percent for the last quarter of 2020.

Nearly all of the leading indicators record significant increases. It is evident that the pandemic measures introduced at the start of December have not impacted the economy negatively. We think that excluding economic activities from the scope of prohibitions is decisive in this result.

pdf. EconomicGrowthForecasts2021M2