On September 10, the Turkish Statistical Institute (TUIK) announced that Turkey's gross domestic product (GDP) in the second quarter of 2009 indicated a 4.4 percent decrease to TRY 228.82 billion (approx. US$152.48 billion) in current prices and a seven percent decrease to TRY 23.51 billion (approx. US$15.67 billion) in constant prices, both compared to the same quarter of the previous year.
On the other hand, the TUIK has revised the record contraction ratio of 13.8 percent for the first quarter of 2009 to 14.3 percent, and the contraction of 6.2 percent in the last quarter of 2008 to 6.5 percent. According to the revised rates, the growth rate in 2008 was 0.9 percent.