In June, industrial production expanded 2.7% over the same month last year. The reading was below the 5.9% rise recorded in May but slightly overshot market expectations, which had anticipated that industrial output would increase 2.6%. The deceleration over the previous month was entirely driven by a sharp slowdown in the all-important manufacturing sector, whereas mining and quarrying as well as electricity, gas and steam recorded higher growth rates. A month-on-month comparison corroborates the deterioration reflected in the annual figures, as industrial production fell a seasonally and calendar-adjusted 2.0% in June, contrasting the 0.9% increase observed in May. As a result of the weaker growth in June, the trend continues to point downwards, with annual average growth in industrial production falling from 5.5% in May to 5.1%.
Industrial production eases in June
August 29, 2012
Looking for forecasts related to Industry in Turkey? Download a sample report now.
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
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.