Turkey's economy grows 2.9% in Q2

Turkey's economy grew 2.9% in the April-May-June quarter, Turkey's statistic authority said as reported by Anatolia news agency. An analyst with an Istanbul-based investment house said the figure was below than expectations of between 3.1-3.3%. TurkStat said the GDP had reached 28.8 billion Turkish Liras (12.5 billion euros) in fixed prices, and it was 349.6 billion Turkish Liras (151.6 billion euros) in current prices in Q2. Calendar adjusted GDP was up by 3.2% over the second quarter from a year earlier, and the seasonal and calendar adjusted figure increased by 1.8%. The country's economy grew 9.2% in 2010 and 8.5% in 2011. Turkey is expected to achieve a 4% annual growth in 2012.