Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
ANKARA, Sept. 2 (Xinhua) — Turkey's economy grew 4.8 percent in the second quarter from a year earlier, beating market forecasts, official data showed Monday.
The Turkish Statistical Institute said the country's seasonally and calendar-adjusted gross domestic product (GDP) grew 1.6 percent from the first quarter, accelerating from a revised 2.3 percent in January-March.
According to a survey by the semi-official Anadolu Agency, annual growth in April-June was forecast at 3.87 percent. The government is targeting 4 percent growth this year and is expected to update its forecast this month.
Construction and industry were the main drivers of growth, while agriculture contracted. On the spending side, household consumption and investment supported growth, but government spending declined.
Treasury and Finance Minister Mehmet Simsek said the second-quarter results, which were helped by calendar effects and a low base, showed that Turkey's economic program was on track. "With the increase in annual growth and continued disinflation, the success of our program has become clear," he said in a statement.
He added that output rose in all sectors except agriculture, which was hit by frost. Manufacturing posted its best performance in three years, with high-tech production up 40 percent from a year earlier.
M. Simsek also said that Turkey's annual national income is approaching 1.5 trillion US dollars. –0–
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