GDP did not change compared to the previous quarter

By: Trademagazin Date: 2024. 02. 15. 07:32

Falling short of expectations, the domestic GDP did not change in the fourth quarter of last year compared to the same period of the previous year, while seasonally and adjusted for the effect of working days, the increase was 0.4%. Compared to the previous quarter, the performance of the economy also did not change, so the second quarter of the domestic economy leaves behind the downward trend that lasted for several quarters. The annual adjusted GDP change in 2023 was -0.8% in the light of the fourth quarter data, mainly due to the weaker performance of the first half.

Economic performance was dragged down to the greatest extent by industry, construction and market services, including trade, while the human health, social care and infocommunications sectors increased substantially. The favorable performance of agriculture also contributed to the performance, as it characterizes the whole year, correcting for the strong drought period in 2022.