However, the textiles, fur and leather sector fell by 8.3%, and there was contraction in engineering and allied industries (-0.8%), chemicals, coke, refined petroleum products and nuclear fuel (-3.2%) and metals and metal products (-0.4%).

BBC: Food and drink leads rise in Scottish exports

Umit Boyner, head of TUSIAD, the Turkish employers' federation, stresses the country's strong financial sector and its big exporters of textiles, cars and in agribusiness.

ECONOMIST: The economy has had a big boost from much sounder management

Every sector seems to have been hit, from textiles (Burlington Industries), to food (Dole), apparel (Levi's, Tommy Hilfiger), cosmetics (Revlon), cars (Ford), and cinema operators (Carmike and United Artists).

ECONOMIST: American banks

Increased risk in the telecoms sector comes as no surprise, but equal risk in textiles does.

ECONOMIST: Wild mood swings in the world's markets