The Turkish Statistical Institute has announced that Turkey's gross domestic product in the Q2 of the current year grew by 10.3% to TRL 349.63 million in current prices and by 2.9% in constant prices to TRL 28.84 million both compared to the same period of the previous year.

Meanwhile, in the Q2 of 2012 Turkey's seasonal and calendar adjusted GDP increased by 1.8% compared to the previous quarter.

According to the TUIK data, Turkey's manufacturing sector which saw 3.1% increase in productivity in the H2 of the year, contributed 26 percent to Turkey's overall GDP in the given period.

Mr Nihat Ergün Turkey's minister of science, industry and technology commented on the Q2 GDP growth stating that the Turkish economy saw the fastest growth rate in its region considering that the euro area recorded a contraction, while OECD countries' GDP saw growth of 1.6% in the period in question all on YoY basis.

Source - Visit www.steelorbis.com for more

(www.steelguru.com)