In July, industrial production expanded 3.4% over the same month last year. The reading was up from the revised 3.0% rise recorded in June (previously reported: +2.7% year-on-year) and overshot market expectations, which had anticipated that industrial output would increase 2.0%. The acceleration over the previous month was entirely driven by faster growth in the all-important manufacturing sector, as mining and quarrying as well as electricity, gas and steam deteriorated over the previous month. A month-on-month comparison corroborates the improvement reflected in the annual figures, as industrial production rose a seasonally and calendar-adjusted 1.7% in July, contrasting the 1.6% drop observed in June. Despite the faster growth in July, the trend continues to point downwards, with annual average growth in industrial production falling from 5.1% in June to 4.8%.
Industrial production up in July
September 11, 2012
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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 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
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.