Turkey: Industrial output bounces back in December
Industrial output increased 2.4% month-on-month in seasonally adjusted terms in December (November: -1.4% mom). The print marked the best reading since March. The reading reflected a broad-based upturn, with activity in the manufacturing, mining and quarrying and energy sub-sectors all improving in December.
On an annual basis, industrial production increased 1.6% in December, which was notably better than November’s 0.1% uptick. Accordingly, the trend improved, with the annual average growth of industrial production coming in at 0.9%, up from November’s 0.7%.