turkey posts better than expected first quarter growth
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Turkey posts better than expected first quarter growth

Arab Today, arab today

Arab Today, arab today Turkey posts better than expected first quarter growth

A view of the Bosphorus at sunset at Uskudar
Ankara - AFP

Turkey on Wednesday reported better-than-expected growth of 2.3 percent in the first quarter of 2015 from the same period the year earlier, boosted by a rise in consumer spending.

The figure published by the state statistics office was considerably higher than the market consensus of 1.6 percent but analysts said there was still concern about the state of the Turkish economy going forwards.

Annual growth in the fourth quarter last year was 2.6 percent.

Growth in 2014 had dipped under 3 percent to 2.9 percent, in a sign that the stellar growth seen under the Justice and Development Party (AKP) over the last years was coming to an end.

The main driver in the robust first quarter figure was a rise in consumer spending with household consumption up 4.5 percent year-on-year.

"However, this came at the cost of a fall in the domestic savings rate and a rise in the current account deficit," said William Jackson of Capital Economics in London.

"None of this looks sustainable and we think growth will be weak over the coming quarters," he added, predicting growth of 2.5 percent for the full year.

The data was published three days after legislative elections where the AKP lost its majority for the first time in 13 years, with voters concerned about an economic slowdown.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

turkey posts better than expected first quarter growth turkey posts better than expected first quarter growth

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

turkey posts better than expected first quarter growth turkey posts better than expected first quarter growth

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday