Dec 11 2017

Turkish economy grows 11.1% in third quarter

Turkey's economy expanded 11.1 percent in the third quarter from a year ago, when an attempted military coup had ravaged economic activity.

The economy grew 9.6 percent annually, on a calendar-adjusted basis, the government's statistics office said on Monday. The services sector expanded 20.7 percent and construction 18.7 percent.

The growth rate, which was the fastest pace in Turkey in six years, was the highest in the G-20 list of industrialised nations. The economy had contracted 0.8 percent in the third quarter of 2016 after rebel soldiers attempted to overthrow the government on July 15.

Quarter-on-quarter growth was 1.2 percent, increasing the size of the economy to $844 billlion. Quarterly growth was 2.1 percent in the April-June period.

For the full data release