"Turkish economy grew uninterruptedly by eight quarters in a row until 2Q11
BGC Partners - 10.08.2011
Finally, some slowdown in economic activity, but it is early to see a reversal in C/A deficit Measures taken by the Government, CBT, and BRSA will show some impact on Turkey's GDP growth in 2Q11. However, this does not mean that Turkey's GDP growth came down to reasonable levels that could help Turkey to reduce its C/A deficit. After growing by 8.9% in 2010, Turkish economy grew by a whopping 11.0% in 1Q11 in real terms despite the unfavorable base. On a q-o-q basis (SA), Turkish economy grew uninterruptedly by eight quarters in a row until 2Q11. However, we foresee that although Turkish economy will post another strong real growth figure in 2Q11, sequential growth will record a 0.3% decline in 2Q11 after growing by 1.4% q-o-q in 1Q11."
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