Turkey reports strong industrial output growth

Monday, 11 April 2005 11:28:00 (GMT+3)   |  
       

Turkey reports strong industrial output growth

Turkey's State Institute of Statistics (DIE) disclosed that the country's industrial output rose 14.9% year on year in February 2005. The increase in industrial output was higher than the market expectations of 12.3% due to base-year effect and seasonality. In February, the increase in the production of automotive (42%), non-metallic minerals (86%), electrical machinery and equipment (48%) and plastic and rubber (40%) drove production figure higher. However, textile output fell 5% year on year and ready-to-wear output decreased 8% year on year, confirming already weak export figures in these sectors. The intense Chinese competition and the appreciation of Turkish currency impacted these sectors negatively.

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