Turkey's GDP grows 3.2% in Q2

Turkey's industrial production rose by 1.4 percent in June compared to the previous month, bringing the average GDP growth in the second quarter of the year to 3.2 percent, official figures showed Monday. The growth in the second quarter was better than that of the first, which stood at 3 percent. "The increase is satisfying due to the conditions of the ongoing global business conjuncture," Turkish economist Zafer Caglayan said in a statement after the figures were released by Turkish Statistics Institute, forecasting an annual growth rate of slightly over 3 percent in 2013. However, other key indicators, including PMI, consumer and private sector confidence indices and power generation, still imply a hard time for the country in maintaining good growth momentum in the second half of the year.