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After accounting for the one-off surge in gold exports to Iran, 2012 was relatively subdued and finished with a particularly soft patch in Q4, when GDP stagnated over the quarter. However, the Turkish economy seems to have already started recovering from this short-lived slowdown, according to data for January and February. Widening current account deficit and faster bank lending suggest a pick-up in consumption, while strong PMI readings point to improving business activity.
Source : Cushman & Wakefield
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