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Textile output falls sharply in December
10
Feb '09
The joy of economists was short-lived on release of the industrial output figures for December 2008, which depicted rise in textile production for that month, but was later corrected by the Turkish Statistical Institute which releases the figures.

According to the new figures released by the institute, industrial output fell by an outstanding 17.6 percent, the highest negative growth since statistical records began to be maintained in 1986, with output of the textile sector falling by a even more sharper 25.9 percent.

The recessionary trends prevailing in the key markets of Turkey like Europe and US and in the domestic markets are now clearly visible from the statistical data. The government in order to push industrial output has reduced lending rates by 3.75 percent in the last three months.

Fibre2fashion News Desk - India


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