In the fourth quarter, GDP rose 5.2% over the same quarter the previous year. The figure represented a deceleration compared to the 8.4% expansion recorded in the third quarter (previously reported: +8.2% year-on-year), and also undershot market expectations, which had anticipated a 5.5% rise. The slowdown in the fourth quarter was entirely caused by a moderation in the domestic sector. Private consumption rose 3.4% over the same period the previous year, more than halving the 7.8% expansion recorded in the third quarter. In addition, government spending contracted 4.3% (Q3 2011: +10.3% yoy). Finally, fixed investment decelerated sharply from a 14.6% rise in Q3 2011 to a soft 2.4% increase. Meanwhile, the net contribution from the external side of the economy improved. Exports of goods and services expanded 6.7% (Q3 2011: +10.2% yoy), while imports contracted 5.1% (Q3 2011: +6.8% yoy). As a result, the external sector's net contribution to overall growth improved from 0.5 percentage points in the third quarter to 3.2 percentage points in the fourth. A quarter-on-quarter analysis corroborates the slowdown suggested by the annual figures, as GDP grew 0.6% over the previous quarter in seasonally and calendar-day adjusted terms, less than half the 1.3% expansion recorded in the third quarter. For the full year 2011, the economy expanded a strong 8.5%, slightly below the 9.2% growth rate registered in 2010. The government anticipates economic growth to moderate to 4.0% this year.
Economic growth slows in Q4
April 2, 2012
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Turkey Economic News
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.