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Turkey’s economy misses estimates in Q3

by ChemOrbis Editorial Team -
  • 10/12/2014 (11:41)
According to data released by the Turkish Statistical Institute (TUIK), Turkey’s economy grew less than expected in the third quarter of this year to post the slowest pace of growth seen since the same quarter of 2012.

The country’s gross domestic product (GDP) increased 1.7% year over year in the third quarter after a revised increase of 2.2% in the previous quarter. Economists’ initial estimates called for a 3.0% gain in a survey by Reuters. The country’s weaker quarterly economic growth was attributed to a slowdown in domestic demand.

Meanwhile, the Turkish government is targeting economic growth of 4.0% this year.
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