Bloomberg News

Turkey Economic Growth Expected to Slow to 5.9% in Third Quarter

December 12, 2011

Dec. 9 (Bloomberg) -- Turkey’s economic growth is expected to slow in the third quarter as inflation accelerated, the lira weakened and the crisis in Europe pared an expansion in exports.

Growth is expected to decline to 5.9 percent annually from 8.8 percent in the three months to June, according to the median estimate of four analysts in a survey compiled by Bloomberg. Forecasts ranged from 4.1 percent to 7.3 percent.

“This will be the last strong year-on-year figure and starting in the fourth quarter there will be a noticeable slowdown in growth that will become more visible, particularly in consumption and investment,” Tevfik Aksoy, chief economist for the region at Morgan Stanley in London, said in an e-mailed report today.

The statistics office in Ankara is due to publish the growth data at 10 a.m. on Dec. 12.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Selcuk Gokoluk at sgokoluk@bloomberg.net


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