[chart] Turkey GDP: quick, quick, slow

by Rob Minto

So much for the T in Mist: Turkish GDP for the fourth quarter of 2012 was just 1.4 per cent – lower than consensus forecast and the lowest rate since 2009.

Overall it made for 2.2 per cent growth for the full year – a marked slowdown from the previous two years, when 8 plus per cent was the norm. [Chart after the break.]

Here’s the chart:

Source: Bloomberg

As Daniel Dombey wrote in the FT:

Turkey’s economic slowdown has been largely engineered by the financial authorities, who raised interest rates last year amid fears of economic overheating. The figures come at a time when economists say signs are mixed over the future strength of Turkey’s economy.

via [chart] Turkey GDP: quick, quick, slow | beyondbrics.