Turkey's growth rate hits 5.1 percent in second quarter

Turkey's growth rate hits 5.1 percent in second quarter

The Turkish economy expanded 5.1 per cent year-on-year in the second quarter, official data showed on Monday, just below analysts' forecasts, and ministers predicted growth will gain momentum in the third quarter.

Shortly after the official statistics was released, the Turkish lira rebounded against the USA dollar on Monday morning.

The exchange rate stood at 3.4010 by 5 p.m. local time (1400GMT) Monday, compared with 3.4080 at Friday's close.

US -based financial services firm Morgan Stanley also increased its forecast for Turkey's growth rate for this year to 4.3 percent, from 3.3 percent.

The USD/TRY rate saw sharp fluctuations after last year's defeated July 15 coup and climbed to its historic hike - around 3.94 liras - in mid-January this year.

The growth rate in the first quarter of 2017 was revised up from 5 percent to 5.2 percent.

Dennis Rodman Wants to 'Straighten Things Out' Between Donald Trump, North Korea
During his June trip to North Korea, Rodman delivered a copy of Trump's book, "The Art of the Deal", to Kim. He said he's hopeful, however, that President Trump and his powerful pal can have a peaceful chat.

The company pointed out strong lending growth, and said the biggest contributions to economic activity came from private consumption, exports and capital expenditure.

The 5 percent growth rate for the first quarter was also revised up to 5.2 percent.

The firm added that the 10.5 percent year-over-year growth in net exports strongly contributed to the economic growth, which was significantly higher than 2.5 percent of growth in imports. TurkStat announced that imports of goods and services also increased by 2.3 percent in the same period. What does it mean?

Gross domestic product grew by calendar-adjusted 6.5 percent annually, faster than the 4.9 percent expansion seen in the first quarter.

The share of compensation of employees in the gross value added was 36.2 percent in the second quarter of 2017 while it was 38.1 percent in the same quarter of the previous year.

Related:

  • Lumpkins Purchases 7000 Shares of Mosaic Company (The) (NYSE:MOS) Stock

    Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Mosaic Company (The ) by 1.1% during the 1st quarter. Of those analysts, no rate stock as a Strong Buy, 11 rate it as Hold, and just 1 analyst rates it as a Moderate Sell.
    Dalai Lama gives talk in Londonderry

    Dalai Lama gives talk in Londonderry

    Richard Moore, director of Children in Crossfire , said: "It is a great honour and privilege for him to come to Derry". The Dalai Lama said he was saddened by the USA leaving the Paris climate accord. "Each country belongs to its people".
    Broadwind Energy Inc (BWEN) Shares Trickle Lower For the Week

    Broadwind Energy Inc (BWEN) Shares Trickle Lower For the Week

    Following the sale, the chief executive officer now directly owns 534,746 shares of the company's stock, valued at $18,015,592.74. Texas Yale Capital, a Florida-based fund reported 37,705 shares. ( NYSE:MXL ), 11 have Buy rating, 0 Sell and 0 Hold.
  • Central Florida, Maryland's next football opponent, calls off second straight game

    Central Florida, Maryland's next football opponent, calls off second straight game

    The Yellow Jackets next play at home against Pitt on September 23 in what will be their first ACC game. Instead of football, Spectrum Stadium and the area near it will be used to help aid recovery efforts.

    Academy Capital Management INC Decreased Stake in Wal (WMT) by $6.13 Million

    Merriman Wealth Management Llc decreased Exxon Mobil Corp (NYSE:XOM) stake by 35,681 shares to 11,358 valued at $1.03M in 2016Q4. Moreover, Acropolis Invest Management Ltd Liability has 0.47% invested in Wal-Mart Stores Inc (NYSE: WMT ) for 36,984 shares.
    Katia makes landfall on Mexico's Gulf coast, weakens to tropical storm

    Katia makes landfall on Mexico's Gulf coast, weakens to tropical storm

    Hurricane Irma , one of the most powerful Atlantic storms in a century, made landfall in Cuba on Friday as a Category 5 storm. Though it's unusual for three hurricanes to be active in the Atlantic basin at the same time, it's not without precedent.
  • Tropical Storm Irma could bring strong winds, heavy rain to Alabama today

    Tropical Storm Irma could bring strong winds, heavy rain to Alabama today

    Florida Governor Rick Scott delivered a strong warning Saturday morning as Hurricane Irma threatens parts of the Sunshine State. Irma as of about noon Saturday was near the north coast of Cuba and 175 miles southeast of Key West with winds of 125 mph.

    Analyst Stock Ratings: Boston Scientific Corporation (BSX), Square, Inc. (SQ)

    It is negative, as 45 investors sold BKD shares while 73 reduced holdings. 52 funds opened positions while 296 raised stakes. Jefferies Group LLC reiterated a "hold" rating on shares of Boston Scientific Corporation in a research note on Thursday.

    Thousands without power as Irma shifts west

    Upon leaving Florida, a weakened Irma is expected to push into Georgia, Alabama, Mississippi, Tennessee and beyond. It then rounded Florida's southwestern corner and hugged the coast closely as it pushed north.
  • Starwood Property Trust (NYSE:STWD) Receiving Somewhat Positive News Coverage, Accern Reports

    BNCL's SI was 1.25M shares in September as released by FINRA. 43,856 were accumulated by Ngam Advsr Ltd Partnership. The New Jersey-based Krasney Financial Ltd Company has invested 1.17% in Starwood Property Trust, Inc. (NYSE:STWD).

    SC notice to Centre, CBSE and cops over Gurugram murder

    However, questions have been raised by the child's parents on a bigger conspiracy in which the school's role is suspect. However, in the light of recent atrocities, schools are unfortunately not safe anymore.
    Tezpur University ranks among world's top 1000 universities

    Tezpur University ranks among world's top 1000 universities

    Harvard University remained at No. 2 while the University of Chicago and Yale University again tied for No. 3. Overall, the University tied with Carnegie-Mellon University at No. 25.

Comments

Latest news

Governor Rick Scott Takes an Aerial Tour Over Florida's West Coast
Federal Emergency Management Agency chief Brock Long said Hurricane Irma is going to pose challenges for first responders. But those few miles meant St Petersburg could get a direct hit, rather than its more populous twin across Tampa Bay.

China finds no radiation issues after North Korea bomb test
North Korea's Foreign Ministry said in a statement published on state media that if the USA "does rig up the illegal and unlawful 'resolution, '" it would respond in kind.

Political support to big private schools helped them evade CBI probe: Sisodia
The minister, who also holds Delhi's education portfolio, said CCTV was a must in all government and private schools. The seven-year-old boy was found with his throat slit in a washroom inside Ryan International School Friday morning.

Hazard Starts - Chelsea's Probable 3-4-3 XI vs Qarabag
The calibre of domestic opposition means it is hard to rest players and prioritise the Champions League , Conte says. In England it's not easy to do this. "Until the end of your career you can always improve".

RMD Sad Over Arsenal Absence, Tips Madrid To Retain Champions League Title
The Champions League opener is available in most nations through the rights holders' online platform, if they have one. Qarabag is the first Azerbaijani team to reach this stage and its reward is one of the most competitive groups .

Man killed in I-580 crash in Oakland identified
KABC-TV reports Caltrans officials say one of the three people who died was a person trying to help in the initial wreck. The California Highway Patrol confirms one person died in a rollover crash near Buellton late Sunday night.

Cabot Corp (NYSE:CBT) Rating Reaffirmed by Analysts at KeyBanc Today
Cabot Oil & Gas Corporation on 6/29/2017 reported its EPS as $-0.04 with the analysts projecting the EPS of the stock as $-0.04. Sanders Capital Llc decreased Microsoft Corp (NASDAQ:MSFT) stake by 1.08 million shares to 11.65M valued at $750.60M in 2016Q4.

Zuma says DA used witchcraft to win local elections
A major cabinet shake-up is on the cards, with Nkosazana Dlamini-Zuma expected to be named as a new minister. The campaign source said a third-term bid by Zuma would only help Ramaphosa's presidential ambitions.

US Seals Train SKorean Team to Kill Kim in Case of War
Trump emphasized China's "important role" in solving the North Korean nuclear problem, according to CCTV. China supplies most of North Korea's crude.

Norway's right-wing government projected to win re-election
The conservative parties that have governed Norway for the past four years appear to be retaining control of the parliament. Ms Solberg's ruling coalition with the Progress Party is slated to win 89 of 169 seats, with 95% of votes counted.

United Nations passes fresh sanctions on North Korea
The test sent powerful tremors across the region, suggesting the device used was the most powerful the nation has ever tested. The Trump administration has said all options are on the table in dealing with North Korea, including a military response.

BC budget: Tax changes for British Columbians
The plan rides a hot economy and relies on higher than expected surpluses to pay for policies and programs. While her government will spend $51.9 billion in this fiscal year, revenues are pegged at $52.4 billion.

Texas Gov. Greg Abbot suggests Harvey recovery could reach $180 billion
Houston's school district said up to 12,000 students would be sent to different schools because of flood-damaged buildings. Abbott said there is a long road ahead for Texas to rebuild.

Former parliament speaker to become Singaporean President
This year, the Presidential election has been reserved for the members of the Malay community. Mdm Halimah, 63, added that she will now focus on preparing for Nomination Day on Wednesday.

Vladimir Putin calls for talks with North Korea
That list would include China, the U.S.'s biggest trading partner, which accounted for about a sixth of its overseas commerce. Putin told Moon that the North Korean problem should be solved diplomatically, according to Seoul's presidential office.

Other news