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Turkey’s economy grows 5.7% in Q4, beats forecasts

by ChemOrbis Editorial Team -
  • 31/03/2016 (13:36)
According to data released by the Turkish Statistics Institute (TUIK), Turkey’s economy grew 5.7% on a yearly basis in the last quarter of 2015, beating economists’ expectations that called for a growth rate of 5%. The Q4 growth rate also exceeded a growth rate of 3.9% in the previous quarter. On a quarterly basis, meanwhile, the Turkish economy expanded 0.7% on a seasonally-and-calendar-adjusted basis.

The acceleration in the economy was attributed to stronger household and government consumption and investments.

In the whole of 2015, meanwhile, the country’s gross domestic product (GDP) expanded 4% following a growth rate of 3% in 2014.
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