12/9/2011

Industrial production hits 7-year-high in October

Zaman - Turkey’s industrial production rose by 7.3 percent in October, hitting 138.4, over the same month of 2010, the Turkish Statistical Institute (TurkStat) reported. On the rise for the 23rd consecutive month, the increase in industrial output went up by 8.6 percent over September’s index value of 127.5.

According to October's figures, Turkey produced 7.3 percent more industrial goods in the 10th month, compared to the same month last year. Industrial production in October was 8.6 percent higher than the previous month. When seasonally adjusted, national industrial production grew by 4.4 percent month-on-month. The highest increase in industrial production was seen in capital goods production with 8.9 percent in October, compared to the same month of 2010, followed by the production of durable consumer goods with 8.2 percent, the production of intermediate goods with 8 percent, and energy production with 6 percent, while the production of non-durable goods also increased by 6 percent in the given period.

Looking at the subgroups of the manufacturing sector, the TurkStat data show that the highest increase was seen in machinery and equipment production with a robust 31.7 rise in October over the same month of the preceding year. Wood production and electronics production increased by 21.3 percent and 18.5 percent, respectively, in the aforementioned period. The largest decline in industrial production was experienced in coke coal and petroleum products with 10.5 percent and 8.3 percent in October over the tenth month of 2010, respectively.
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