Turkey’s Q1 economic growth beats estimates
The higher than expected growth in the economy was attributed to stronger domestic demand. Household consumption increased 4.5% year over year while government consumption rose by 2.5% compared with the same quarter of 2014. Domestic demand, meanwhile, rose 1.3%.
The data also showed that Turkey’s exports declined by 0.3% on the year to reach TRY7.858 billion ($2.87 billion) in the first three months while imports increased 4.1% to TRY 8.703 billion ($3.18 billion).
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