Turkey Industrial Output July 2007

Details of the monthly production index are now out from Turkstat. The index increased by 3,5 % in July of 2007 when compared with July 2006. Despite weak domestic demand out put has now recovered from the drop earlier in the year (although month on month we are still down slightly from June) and the level is now above that for the same period in 2006. Given the very tight monetary conditions prevailing this cannot be considered a bad result. Here is the chart for output since the start of 2006.