The Turkish GDP grew 4.3 percent year-on-year in the first three months of 2014, slowing slightly from a 4.4 percent expansion in the previous period. A surge in exports and higher government spending were enough to offset a slowdown in household consumption and a drop in investment.
Household consumption increased by 2.9 percent year-on-year, slowing from a 5.3 percent expansion in the previous quarter. Imports slowed sharply to 0.8 percent from 9.3 percent in the preceding quarter.
In contrast, government expenditure grew 8.6 percent from 6.8 percent in the last three months of 2013 and exports surged 11.4 percent, recovering from a 0.5 percent drop in the previous quarter.
Gross fixed capital formation shrank 0.5 percent, following a 6.4 percent increase in the last quarter of 2013.
On a quarter-on-quarter seasonally adjusted basis, the economy advanced 1.7 percent, compared to a revised 0.9 percent expansion in the previous three months.
6/10/2014 11:24:00 AM