Turkey’s hot economy just got hotter, increasing fears that the authorities may struggle to keep control of inflation risks.
As Reuters reports, the country’s industrial output rose 16.9 percent year-on-year on December, far exceeding forecasts for a rise of 11 percent. On a seasonal and calendar adjusted basis output soared 5.7 percent on the month, after contracting slightly in November.
This puts Turkey on target for a 7-8 per cent GDP increase for 2010, the highest for any big economy in Europe and among the highest in the world. But it may not last.
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