Turkey’s economic growth accelerated unexpectedly in the third quarter, logging its fastest growth since early 2014, official data showed Thursday.
Gross domestic product grew 4 percent year-on-year in the third quarter, the fastest growth since the first quarter of 2014, when it climbed 5.1 percent, the Turkish Statistical Institute said.
Economists had forecast the pace of growth to ease to 2.7 percent from 3.8 percent in the second quarter.
Quarter-on-quarter, seasonally and calendar adjusted GDP climbed 1.3 percent in the third quarter, but slightly slower than prior quarter’s revised 1.4 percent growth.
This was the fifth consecutive rise in GDP and far exceeded a 0.3 percent expansion forecast by economists.
At the same time, calendar adjusted GDP climbed 5.4 percent from the same period of last year.
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