Turkish GDP Growth Accelerates in Q2

The Turkish economy expanded 3.8 percent year-on-year in the three months to June of 2015, following an upwardly revised 2.5 percent increase in the previous period and better than market forecasts. It is the highest growth rate since the first quarter of 2014, driven by domestic demand.

Household consumption rose 5.6 percent (4.6 percent in Q1), government spending went up 7.2 percent (2.5 percent in Q1) and gross fixed capital formation surged 9.7 percent (0.4 percent in Q1).

In contrast, exports shrank at a faster 2.1 percent (-1.1 percent in Q1) and imports slowed (1.6 percent in Q2 from 3.9 percent in Q1). 

On a quarter-on-quarter seasonally adjusted basis, the economy expanded 1.3 percent, slowing slightly from an upwardly revised 1.5 percent increase in the first three months of 2015.

Considering the first six months of the year, the economy expanded 3.1 percent, below government's 4 percent target. 

Turkish GDP Growth Accelerates in Q2

Turkstat | Joana.taborda | joana.taborda@tradingeconomics.com
9/10/2015 9:44:51 AM