Today's Zaman reported that Turkey's industrial production growth rate increased by 8.4% YoY in November 2011 as compared with the same month of the previous year.

According to data released by the Turkish Statistics Institute, the energy production and distribution sectors showed the biggest rise with a 16.9% YoY increase, followed by manufacturing, which demonstrated a 7.6% YoY gain overall. Production in the mining sector also increased by 2.9% YoY in November 2011 over the same month of 2010.

In January 2011, industrial production growth rate increased by 19%, the highest gain of the year. The lowest rise was seen in August 2011 when production rose by 3.7%. Although the expected rise in November 2011 was predicted to be over 10% in addition to an average increase of 13.1% throughout 2011, the 8.4% rise was compatible with numbers from the second quarter.

In manufacturing sub sectors, the largest increase was seen in the production of durable goods, which rose by 19.5%. Production of capital goods ranked second with a 15.9% increase. Energy production for the industry placed third with a 10.9% rise, followed by production of intermediate goods with a 5.3% increase. Non durable goods production also rose by 5% YoY as compared to November 2010.

The biggest downturn in the manufacturing sector was seen in the production of coal and refined petroleum, which shrank 15.1% YoY, followed by the production of nonmetallic minerals, which contracted 4% YoY.

Production of vehicles experienced a 101.2% YoY increase, based on production rates in the related sub sectors of the manufacturing sector. Production of computers, electronics and visual (optical) goods followed transportation vehicles with a 54.8% YoY rise, while wood products (not furnishings) placed third with a 32% YoY increase.

(Sourced from www.todayszaman.com)