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Turkey Industrial production January 2023

Turkey: Industrial output records best reading since June 2022 in January

Industrial output increased 4.5% in year-on-year terms in January, which contrasted December’s 0.4% decrease. January’s figure marked the best reading since June 2022. Looking at the details of the release, stronger manufacturing output spearheaded the rebound. That said, mining and quarrying production plunged.

Meanwhile, annual average industrial production growth fell to 5.4% in January (December: +5.7%). This signals a worsening trend in the industrial sector.

On a monthly basis, industrial production expanded 1.9% in seasonally adjusted terms in January (December: +1.7% mom)

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