In January, industrial production expanded 1.5% over the same month last year. The reading was below both the 3.7% rise recorded in December as well as market expectations of a 3.5% increase. The figure marked, in fact, the slowest growth rate observed since November 2009. The deceleration over the previous month was broad-based, although it mainly reflected slower growth in the manufacturing sector. A month-on-month comparison corroborates the deterioration reflected in the annual figures, as industrial production contracted a seasonally and calendar-adjusted 3.1% in January, which contrasted the 2.5% expansion observed in December. Moreover, the trend continues to point downwards, with annual average growth in industrial production falling from 8.9% in December to 7.6% in January. The government anticipates growth to reach 4.0% this year.
Industrial production expands at slowest pace in two years
March 8, 2012
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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.