TURKEY 1Q GDP RISES 11.7% ON YEAR

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TURKEY 1Q GDP RISES 11.7% ON YEAR
30.06.2010 11:53

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İSTANBUL (İHA) - Turkey's gross domestic product rose 11.7% on the year in the first quarter of this year after a 6.0% growth in the fourth quarter of last year, data showed Wednesday.

The country's gross domestic product declined by 4.7% in 2009 compared with the previous year.

Market participants were expecting GDP to grow between 11% and 11.5% in the first quarter.

In the Turkish central bank's latest survey, respondents said they expected GDP to grow 5.2% this year.

"The GDP figure is in line with our expectations," said Gizem Oztok, an analyst at Garanti Yatirim.

She said the growth rate mainly stemmed from the base effect but an increase in export figures also had a significant impact.

Oztok expects GDP to grow between 8% and 9% in the second quarter and 6% in 2010.
(SB-SB-ENG)

30.06.2010 11:53:06 TSI
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