TurkStat released its monthly data on Industrial Production Index results yesterday. According to the July figures, Turkey produced 8.6 percent more industrial goods year on year.
The country’s industrial production experienced a minor decrease of 0.3 percent over the previous month; however, when corrected for seasonal adjustment, the tableau presented yesterday becomes even more optimistic as the national industrial production seems to have grown by 8.9 percent in July over the same month last year and 0.3 percent over June 2010.
These numbers further confirm Turkey’s steady growth. Its industrial production has shown an average monthly expansion of 15 percent in the January-July period of this year. Turkey’s economy has been one of the fastest in terms of recovering from the impact of the global financial crisis. The Turkish gross domestic product (GDP) grew by 6 percent in the last quarter of 2009 and saw another 11.7 percent expansion in the first three months of 2010. Government officials say they expect an annual GDP growth of over 6 percent by the end of this year.
