Turkey's economy grew at a less than expected 2.1% in the third quarter as demand ebbed - especially in the services sector - under the weight of high interest rates.
Third-quarter gross domestic product (GDP) dipped by 0.2% from the previous quarter on a seasonally and calendar-adjusted basis, Turkish Statistical Institute (TUIK) data showed.
The major emerging market economy has cooled in the face of a monetary tightening campaign that began in June 2023, with the central bank having hiked rates to 50% from 8.5% in order to rein in inflation, which exceeded 48% last month.
