Turkey's economy grows 11.1% in third quarter
Turkish President Recep Tayyip Erdogan
Ankara - Egypt Today
Turkey's economy grew by an eye-catching 11.1 percent in the third quarter of 2017, official statistics showed on Monday, with the high reading driven by one-off effects as well as resilient output.
The year-on-year figure -- which President Recep Tayyip Erdogan boasted made Turkey the world's fastest-growing economy -- was even well above the consensus market forecast which had been for 10.0-percent growth.
The economy had grown by 5.3 percent in the first quarter and 5.4 percent year-on-year in the second, according to revised figures.
Growth was driven by construction and services, as well as a strong rise in exports, official data published by the Turkish Statistics Institute (TUIK) showed.
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