Turkish growth starting to slow

Turkey’s GDP expanded by an impressive 8.5 per cent last year, data released yesterday showed, yet there are signs of the economy finally grinding to a halt. GDP was up by just 0.6 per cent in the final three months of 2011, compared to the third quarter. “Monthly data suggest that the economy slowed further in the first quarter of this year,” added Capital Economics in a note. Capital forecasts Turkish growth of 0.8 per cent this year.