In January, industrial production expanded a calendar-adjusted 7.3% over the same month last year, which followed the revised 7.0% increase tallied in December (previously reported: +7.1% year-on-year). The expansion, which largely exceeded the 2.9% increase that markets had expected, marked the fastest pace since October 2011. According to the statistical institute, January's expansion reflected robust expansions in manufacturing output as well as in the mining and quarrying sector. Conversely, growth in the electricity, gas and steam category slowed in January. A month-on-month comparison corroborates the improvement suggested by the annual figures as industrial production expanded 1.1% in seasonally and calendar-adjusted terms, which was above the 0.2% increase tallied in December. Annual average growth in industrial output rose from 3.4% in December to 3.8% in January. FocusEconomics Consensus Forecast participants expect industrial production to expand 3.0% in 2014, which is down 0.2 percentage points from last month's forecast. Next year, the panel expects industrial output to increase 4.4%.
Industrial production grows at fastest pace in over two years
March 10, 2014
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Turkey Industry Chart
Note: Year-on-year and annual average variation of industrial production index in %.
Source: Turkish Statistical Institute (TurkStat) and FocusEconomics calculations.
Turkey Economic News
October 21, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, decreased slightly from 74.3 in September to 74.0 in October.
October 20, 2016
At its 20 October monetary policy meeting, the Central Bank of the Republic of Turkey (CBRT) decided to keep the marginal funding rate unchanged at 8.25%.
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.