Turkey GDP expands 0.3% in Q2, household spending downStaff Writer | September 12, 2016
The Turkish economy advanced 0.3 percent on quarter in the three months to June of 2016, slowing from a downwardly revised 0.7 percent expansion in the previous period.
Economy in Turkey Government spending increased 3.8 percent
Household spending declined 0.5 percent, the first contraction in two years and following a 2.5 percent rise in the previous period.
In contrast, government spending increased 3.8 percent (4.8 percent in Q1) and gross fixed capital formation went up 5.4 percent, recovering from a 1.7 percent drop in the previous period. Private investment rose 6 percent and public one went up 2.7 percent.
Exports slumped 2.8 percent, following a 2.3 percent increase in the previous period and imports growth slowed 0.5 percent (5.4 percent in Q1).
Year-on-year, the economy expanded 3.1 percent, slowing from a 4.7 percent rise in the previous period and below market expectations of a 3.4 percent rise. ■