Concern as Turkish growth hits 11%

Turkey outpaced China with first-quarter 2012 annualised economic growth of 11%, but its red-hot economy was proving more of a headache for policymakers than a cause of ­celebration.

The data, showing quarter-on-quarter growth of 1.4% driven mainly by consumer spending, was said to fuel doubts over the central bank’s unorthodox attempts to cool the economy by limiting banks’ lending, rather than raising interest rates.