Turkish Economy Grows Below Expectations

Turkey’s GDP advanced 1.7 percent year-on-year in the third quarter of 2014, following a revised 2.2 percent expansion in the previous period. The economy slowed for the second consecutive quarter as private consumption eased and investment continues to decline.

Year-on-year, private expenditure grew a meager 0.2 percent, following a 0.5 percent increase in the second quarter. Gross fixed capital formation shrank for the third consecutive period by 0.4 percent. Public investment contracted 2 percent while private investment was flat. 

Government spending increased at a faster 6.6 percent, boosted by a 9.1 percent rise in purchases of goods and services. Exports rose 8 percent, accelerating from a 5.7 percent rise in the previous period.

On a quarter-on-quarter seasonally adjusted basis, the economy advanced 0.4 percent, rebounding from a 0.5 percent contraction in the three months to June. 

Turkish Economy Grows Below Expectations

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
12/10/2014 9:23:57 AM