Turkey’s economic model faces tough test / Turkey’s 8.8% growth beats expectations

Turkey recorded faster-than-expected growth for the second quarter of 2011, chalking up an 8.8% rise on the same period a year before, intensifying fears about unbalanced economic expansion and the country’s vulnerability to external shocks.

The figures, released on the 12 September 2011, marked a lower rate of growth than during Turkey’s first quarter but were well above market expectations of 6-8%.

Turkey has enjoyed blistering economic growth in 2011, with gross domestic product growing at an annual rate of 11% in the first three months of the year and outstripping even China’s growth.
A modest reduction in the growth rate has been a Turkish government goal amid concerns the economy may be overheating and there is a growing view that such a slowing is at hand. The consensus view among economists and officials is that figures to be released on the 12 September 2011 would show that Turkey’s economy grew at a more modest 6 to 8% annual rate in the three months to the end of June 2011.

ESO: Background information: Concern as Turkish growth hits 11% http://www.europeansources.info/record/concern-as-turkish-growth-hits-11/

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