Turkey Q1 GDP Growth Slows to 0.8%

Turkey's gross domestic product expanded 0.8 percent on the quarter in the first three months of 2016, slowing from an upwardly revised 1.2 percent expansion in the previous period and boosted by household consumption and government spending; while a contraction in fixed investment dragged expansion down.

Household consumption grew 1.6 percent, accelerating from a 0.5 percent expansion in Q4 and government spending advanced 4.5 percent (+4.3 percent in Q4). Meanwhile, gross fixed capital formation shrank 2.5 percent, compared with a 1.8 percent growth in the previous quarter. 

Exports rose 2.8 percent after falling 1.1 percent in the previous quarter while imports went up at a faster 5.8 percent, following a 6.7 percent increase in Q4.

Year-on-year, the economy expanded 4.8 percent, slowing from a 5-year high of 5.7 percent growth in the previous period.

Turkey Q1 GDP Growth Slows to 0.8%

Turkstat | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/10/2016 8:43:55 AM