Turkey’s economy grows 4% in Q3, beats estimates
The acceleration in the Turkish economy was attributed to stronger household consumption, which climbed 3.4% in the July-September period from a year earlier. Consumer spending rose 3.4% in the third quarter compared with a 5.5% gain in the previous quarter while public and private investments’ contribution to the GDP declined 0.5% after posting a gain of 9.7% in the second quarter.
Meanwhile, data from Turkey’s central bank data also showed that Turkey’s current account deficit fell to $25.4 billion during the first 10 months of this year compared with $33.8 billion in the same period of last year.
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