Surging Turkish growth raises fears
By Daniel Dombey in Istanbul
Turkey’s economy surged by 8.2 per cent in the third quarter, compared to the same period a year before, outstripping analysts’ predictions and stoking fears of overheating. Market expectations had been for growth of about 6.7 per cent.
The country’s buoyant growth rate – which now stands at 9.6 per cent for the first nine months of the year compared with the same period in 2010 – has been hailed by the government as a sign of the economy’s resilience at a time of weakness in the European Union, Ankara’s main trading partner.
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