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Turkey Economy Q4 2014

The country’s seasonally and calendar adjusted GDP increased by 2.9% y/y and totalled TRY 126.070 bln in 2014, according to provisional data of the Turkish Statistical Institute (TUIK).

Industrial output went up by 3.5% on the year in 2014. The mining sector grew the most, by 6.5% y/y. The electricity, water and gas supply sector, and the manufacturing, rose by an annual 4.6% and 3.1%, respectively.

Average annual inflation rose to 8.9% y/y in 2014, compared to 7.5% y/y inflation a year ago.

Unemployment in Turkey increased to 10.4% of the total labour force in the December 2014 from 9.1% a year earlier, according to data of TUIK.

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