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.