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Turkey Industrial production March 2022

Turkey: Industrial output decelerates in March

Industrial output rose 9.6% year-on-year in March (February: +13.3% yoy). The print was driven by a broad-based deceleration in output growth, with mining and quarrying, manufacturing and energy output all losing steam.

Meanwhile, annual average industrial production growth accelerated to 19.0% in March (February: +17.5%), signaling an improving trend in the industrial sector.

On a seasonally-adjusted month-on-month basis, industrial output swung from a 4.4% expansion in February to a 1.8% contraction in March.

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