Turkish economy likely to expand by 3.2% y/y in 2015: Danske Bank

Quotes from Danske Bank:

-The Turkish economy has been showing clear signs of slowing over the past couple of years; however, falling energy prices and the decelerating CPI are yielding better prospects for 2015-2016. We expect the economy to expand by 3.2% y/y in 2015 (previously 2.8% y/y).

-Lower oil prices are set to reduce the large Turkish current account deficit significantly. Industrial production growth has been improving on lower energy prices.

-In December 2014, it expanded 2.6% y/y from a 0.7% y/y increase a month earlier. Better consumer confidence shows that the current momentum is likely to continue through the whole of 2015 on lower inflation.