Turkish GDP Growth Beats Expectations in Q4

In the last three months of 2013, the Turkish economy expanded 4.4 percent over a year earlier, up from a revised 4.3 percent in the previous three months and above market expectations.

Government consumption recorded the highest growth rate (6.8 percent), followed by gross fixed capital formation (6.4 percent) and household consumption (5.3 percent). Exports contracted for the second straight quarter by 1.5 percent. 

On the production side, financial and insurance activities rose the most on the year (12.8 percent), followed by professional, scientific and technical activities (6.9 percent), construction and wholesale and retail trade (6.2 percent each). Manufacturing expanded 4.9 percent. 

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 0.5 percent, lower than a 0.8 percent expansion in the previous quarter. 

Considering full 2013, the economy grew 4 percent, better than a revised 2.1 percent expansion in 2013. 

Turkish GDP Growth Beats Expectations in Q4

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
3/31/2014 11:20:04 AM