Industrial output figures send strong signs of recovery

The industrial production index, which has been in a declining trend since August 2009, recorded a year-on-year 6.5% rise in October 2009 according to a statement by TurkStat December 8.  Finance Minister Simsek said December 9 that the recent rise in industrial production was a major indicator showing a Turkish economy that is emerging from recession. He added that the recent rise in capacity utilization, exports and industrial production were all signs of recovery for the Turkish economy.

This is good news pointing again toward Turkey’s progressive recovery from the global recession. The exceptionally sharp decline in the October 2008 industrial production index, however, creates a favorable base for the October 2009 yoy numbers, and is, therefore, somewhat misleading as an indicator of longer-term strength.

Source: Today’s Zaman and Anatolian News Agency

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