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.