Turkey Economic Growth Eases To 3.7% In Q3

(RTTNews) - Turkey's economic growth moderated in the third quarter after rebounding in the previous month, official data revealed Monday.

Gross domestic product posted an annual growth of 3.7 percent after rising 4.9 percent in the second quarter, the Turkish Statistical Institute said.

On the expenditure side, household consumption grew 4.8 percent, and government final consumption expenditure advanced by 0.8 percent. Gross capital formation rose 11.7 percent compared to last year.

Meanwhile, net foreign demand was unfavorable as exports fell 0.7 percent amid a 4.3 percent increase in imports.

On a quarterly basis, GDP growth moderated to 1.1 percent in the third quarter from 1.6 percent in the second quarter.