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Turkey's Economic Growth Accelerates In Q1

Turkey's economic growth accelerated to 3 percent year-on-year in the first quarter from 1.4 percent a quarter ago, the Turkish Statistical Institute reported Tuesday. The expansion rate exceeded the 2.3 percent rise forecast by economists.

At current prices, calender adjusted gross domestic product grew 3.7 percent from a year ago and seasonally and calendar adjusted GDP gained 1.6 percent from the prior quarter.

Elsewhere, data from the central bank showed that the current account deficit widened sharply to $8.17 billion in April from $5.5 billion in March. The deficit figure matched economists' expectations.

by RTT Staff Writer

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