Turkey Q2 GDP growth accelerates more than forecasted
2013-09-10 10:31:49
Turkey's economic growth accelerated markedly in the second quarter, and to a larger degree than economists had forecast, latest data showed Tuesday.
Gross domestic product (GDP), at constant prices, increased 4.4 percent on an annual basis in the June quarter, following the first quarter's revised 2.9 percent gain, the Turkish Statistical Institute said.
Economists had forecast GDP to rise 3.5 percent, following the March quarter's originally reported 3 percent gain.
Driving the upturn in overall output, household final consumption expenditure advanced 5.3 percent annually, and government final consumption climbed 7.4 percent. Gross fixed capital formation was higher by 3.7 percent than in the second quarter of 2012.
Sequentially, GDP increased a seasonally and working-day adjusted 2.1 percent during the three-month period, data showed. On a calendar-adjusted basis, GDP grew 4.1 percent from the second quarter of 2012.