Economic growth in Turkey cools to 2.5 per cent in second quarter

Turkey’s economy expanded by a less-than-expected 2.5 per cent in the second quarter of the year, data showed this week, cooling in the face of a year-long monetary tightening drive.

Second-quarter gross domestic product (GDP) grew 0.1 per cent from the previous quarter on a seasonally and calendar-adjusted basis, Turkish Statistical Institute (TUIK) data showed.

In a Reuters poll, the economy was forecast to have expanded 3.2 per cent in the second quarter, with growth of...