Turkey's economy grows 2.9 % in Q2

Turkey's economy grew 2.9 % in the April-May-June quarter, Turkey's statistic authority said on September 10.

An analyst with an Istanbul-based investment house said the figure was below than expectations of between 3.1-3.3 percent.

TurkStat said the GDP had reached TRY28.8 billion in fixed prices, and it was TRY349.6 billion in current prices in Q2.

Calendar adjusted GDP was up by 3.2 percent over the second quarter from a year earlier, and the seasonal and calendar adjusted figure increased by 1.8 percent.

The country's economy grew 9.2 percent in 2010 and 8.5 percent in 2011. Turkey is expected to achieve a 4 percent annual growth in 2012.

Adopted from Worldbulletin