Turkey’s economy grows 7 percent in first quarter, beating expectations

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Turkey’s economy expanded by 7 percent in the first quarter, the Turkish Statistical Institute said on Monday.

The growth rate beat predictions of 6.7 percent and 6.4 percent in surveys of economists held by Reuters and the state-run Anadolu news agency, respectively.

Economic output in the first quarter was $188 billion. Output in the 12 months to March totalled $728 billion.

On a quarterly basis, the economy expanded by 1.7 percent, the institute said.

The lira extended earlier gains, trading up 0.3 percent at 8.52 per dollar after the data was released.

Ahval

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