The Turkish economy expanded 2.1 percent year-on-year in the second quarter of 2014, slowing from a revised 4.7 percent expansion in the previous period. Investment shrank for the second straight quarter and private consumption slowed sharply.
Household consumption increased 0.4 percent year-on-year, slowing from a 3.2 percent expansion in the previous quarter. Government expenditure rose at a slower 2.4 percent, following a 9.2 percent increase in the preceding quarter.
Exports grew 5.5 percent, slowing sharply from an 11.1 percent expansion in the first quarter while imports shrank 4.6 percent following a 0.7 percent increase in previous period.
Gross fixed capital formation shrank 3.5 percent after a 0.2 percent drop in the January to March period.
On a quarter-on-quarter seasonally adjusted basis, the economy contracted 0.5 percent in the second quarter, following a revised 1.8 percent expansion in the previous three months.
9/10/2014 9:21:31 AM