3/9/2011

Turkey’s industrial production increases by 18.9 percent in January

Today’s Zaman - Industrial production grew by 18.9 percent in January over the same month of 2010, the Turkish Statistics Institute (TurkStat) announced on Tuesday.

According to January figures, Turkey produced 18.9 percent more industrial goods this January over January 2010, higher than market expectations of around 14.8 percent. Thanks to robust domestic demand and investment sentiment, economic growth in the first quarter of this year is likely to be strong.

When seasonally adjusted, national industrial production grew by 18.8 percent year-on-year in January and 0.5 percent month-on-month. Manufacturing was up 20.5 percent, while the rise in the mining sector was 11.9 percent in January over January 2010.

The highest production increase was seen in capital goods production, with 34.9 percent in January year-on-year, followed by a rise of 22.2 percent in the production of intermediate goods, 15.3 percent in durable consumer goods and 13 percent in energy production.
Turkey; turkish industrial production; industrial production index; manufacturing industry; turkstat; economic growth