Turkey’s industrial output rise continues full pace
The State Institute of Statistics (DIE) announced that
Turkey's industrial output surged by 15.7% in June from a year earlier, exceeding the market expectations of 14.5%. Accordingly, the increase pace of average industrial output reached 15% in the first half of the year.
When we examined the sectors, it is seen that the intense increase in industrial output largely grew out from 16.8% of growth recorded in the
manufacturing sector. Mining sector also contributed to the industrial output with a 12.4% of growth, but electric, water and gas sector only grew by 7%.
The intense rise in industrial output is attributed to the revival in domestic demand, investment demand increased and especially strong export performance of
manufacturing sector.
It is pointed out that investment expenditures should gain acceleration in the long term to maintain such growth levels. Moreover, the continuing of financial reforms and strengthen of banking system are very significant for the continuing growth rates.