Bottom seen, but road up still bumpy

According to a new report by researchers at Bahçeşehir University Turkey, Turkish industry has hit bottom in terms of the impacts of the global crisis, but it is uncertain how fast Turkey will recover. The report indicates that the industrial production index was up by 1 percent from March to April for the first time in 11 months. Capacity utilization climbed 2.4 percent from March to April and 2.6 percent from April to May.

Fiscal measures and various stimulus packages seem to be having a positive effect by cushioning the recession.  But domestic demand will not be enough. Export rates will need to return to pre-crisis levels, if Turkey is to recover the pace of economic growth that made it so successful from 2002-2007.

Source: Hurriyet Daily

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