Turkey GDP Contracts 0.5% QoQ in Q2

The Turkish economy contracted a seasonally adjusted 0.5 percent quarter-on-quarter in the second quarter of 2014, following a revised 1.8 percent expansion in the previous period. It is the first contraction in more than two years as agriculture, manufacturing and trade shrank.
Turkstat l Rida l rida@tradingeconomics.com
9/10/2014 9:45:14 AM
On a quarter-on-quarter seasonally and calendar adjusted basis, agriculture shrank 2.7 percent, manufacturing fell 0.5 percent and wholesale and retail trade contracted 0.1 percent. Financial and insurance activities decreased 3.2 percent.

The mining sector rose a meager 0.2 percent and construction remained flat. Meanwhile, real estate activities advanced at a
faster 0.5 percent and transportation and storage rose 1 percent.

Year-on-year, the GDP expanded 2.1 percent in the second quarter of 2014, slowing from a revised 4.7 percent expansion in the previous quarter.

Turkey GDP Contracts 0.5% QoQ in Q2



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