Turkish GDP growth slows in Q1
2012-07-02 10:39:21
The Turkish economy grew at a slower pace in the first quarter of 2012, data from the Turkish Statistical Institute showed Monday.
The gross domestic product rose 3.2 percent year-on-year in the first quarter. A lower growth rate was last recorded in the third quarter of 2008, when the GDP was up 0.9 percent.
In the final quarter of 2011, the GDP was up 5.2 percent year-on-year. On a calendar adjusted basis, the GDP grew 2.3 percent year-on-year in the first quarter of 2012.
On a seasonally and calendar adjusted basis, GDP rose 0.2 percent quarter-on-quarter in the first three months of the year.