Slump in Turkish industrial output deepened in February

Posted by 7Star Thursday, April 9, 2009

Turkeys industrial production tumbled by nearly a quarter in February from a year earlier, state data showed on Wednesday, a record fall which showed the economy was sinking deep into recession. The worsening slump, fuelled by the global financial crisis, reflected a slide in domestic demand and a sharp decline in exports, reinforcing analysts expectations of further central bank interest rate cuts.

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