Industrial production up 3.7 pct in December

ANKARA - Anatolia News Agency

Strong growth in industrial production shows Turkish economy is resilient. DHA photo

Turkey’s industrial production index increased 3.7 percent in December 2011 compared to the same month in 2010, the Turkish Statistical Institute said yesterday in a report taking 2005 as the base year.

Industrial production in 2011 rose 8.9 percent on average. The figure was at 13.1 percent for 2010, representing a four-point decrease in annual basis.

The calendar-adjusted production index in December 2011 increased 3.8 percent compared to December 2010, and both the seasonal and calendar-adjusted industrial production index increased 2.7 percent compared to the previous month. In main industry categories, the highest increase was in capital goods manufacturing with a 13.5 percent in December 2011 compared with the same month the previous year.
Turkish economy is resilient despite the adverse global developments because of record low level interest rates in the economy and depreciating Turkish Lira supporting exports, said Özgür Altuğ, BGC Partners chief economist.