Turkey beats China, India as higher spending pushes 2017 economic growth

By comparison, China and India grew 6.9% and 7.1% respectively last year, according to official data

Turkey’s economy expanded faster than China and India last year thanks to a surge in spending both by households and the government.

Gross domestic product rose 7.4 per cent in 2017, with fourth-quarter output up 7.3 percent, Turkstat reported Thursday, beating the median 6.7 per cent estimate in a Bloomberg survey. Seasonally adjusted output rose 1.8 percent from the previous three-month period, also beating estimates.

Consumption

Turkey has rebounded from a slump that followed the failed military coup in July 2016 to become one of the fastest-growing economies in the G-20 group of nations. The trend is likely to continue