Turkey posts better than expected growth in Q3

Turkey posted a better than expected growth of 4.4 percent in the third quarter of 2013, official figures showed on Tuesday. Gross domestic product rose 4.4 percent in July-September, faster than the expected rate of 4.2 percent, said the Turkish Statistical Institute (TurkStat). The overall growth for the first nine months was 4 percent, TurkStat said. In October, Turkey lowered its growth target for 2013 to 3.6 percent, from an original goal of 4 percent, amid global market uncertainties after the U.S. Federal Reserve's decision to taper a stimulus package and weeks of domestic political unrest. The IMF had earlier anticipated that Turkey's economy would grow by 4 percent this year and 5 percent next year.