Turkish economy grows 5.1 per cent in second quarter, expected to gain more momentum

Ankara: 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.
The figures showed the economy had maintained a strong recovery, helped by the government's fiscal stimulus measures, after growth was hit last year by an attempted coup.
"Leading indicators regarding the third quarter show that strong economic growth is continuing and gaining momentum," Deputy Prime Minister Mehmet Simsek said in a written statement following the data.
Second quarter GDP expanded a seasonally and calendar adjusted 2.1 per cent from the previous quarter, the Turkish Statistics Institute data showed.
First quarter growth was revised up to 5.2 per cent from an initially reported 5 per cent, while 2016 growth was revised up to 3.2 per cent from an initial 2.9 per cent. A Reuters poll had forecast annual GDP growth of 5.3 per cent in the second quarter.
"Turkey maintained strong growth in the second quarter. The rise in investments is of note. The third quarter will be better," presidential adviser Cemil Ertem wrote on Twitter after the release of the figures.