Quality, quantity and metrics
The measurement of economic growth is pretty simple. According to the website Investopedia, economic growth is an increase in the capacity of an economy to produce goods and services from one period of time to another. It can be measured in nominal or real terms, the latter of which is adjusted for inflation. Regarding Turkey, our columnists have written extensively about the robustness of industrial production figures, which may result in double-digit growth in the third quarter. However, these figures came at a price: intensified domestic demand and deteriorating finances. Timothy Ash, of Bluebay Asset Management, clearly spotted that the structure of growth has turned less positive, with net exports waning and private consumption and government spending taking the baton away from investment.