Turkey Industry


Industrial production accelerates in June

In June, industrial production expanded a calendar adjusted 4.2% over the same month last year. The reading came in well above the 1.0% rise in the previous month and marks the fastest pace in four months. The expansion reflects improvement in the all-important manufacturing sector, whereas both the mining and quarrying sector as well as the energy production sector deteriorated.

A month-on-month comparison corroborates the acceleration suggested by the annual figures; industrial production rose a seasonally and calendar-adjusted 1.4% in June, which contrasts the 0.7% decrease observed in May. As a result of the stronger annual print, annual average growth in industrial production rose from 2.0% in May to 2.2% in June.

FocusEconomics Consensus Forecast participants expect industrial production to expand 3.9% in 2013, which is down 0.7 percentage points from last month's forecast. Next year, the panel expects that industrial output will increase 5.3%.

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Turkey Industry Chart

Turkey Industry June 2013

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Turkish Statistical Institute (TurkStat) and FocusEconomics calculations.

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