Trade & Investment Center Turkey

Turkey's economy contracted less than expected in the second quarter, with a strong recovery in household spending that economists said would help the country emerge - albeit slowly - from recession.

Gross domestic product fell 7 per cent year on year in the three months to June, official data showed yesterday, beating forecasts of an 8.2 per cent drop. Turkey's economy shrunk by more than 10 per cent in the first half of 2009, but economists expect it to contract by 5 to 6 per cent over the whole year and return to growth in 2010.

Financial time.