Turkey Industrial production November 2020

Turkey

Turkey: Industrial output grows at fastest pace in over two-years in November

January 14, 2021

Industrial output expanded 11.0% in year-on-year terms in November, which followed October's 10.4% increase. The figure marked the strongest expansion since January 2018. November's upturn largely reflected an upturn in mining and quarrying and manufacturing production.

Meanwhile, annual average industrial production growth rose to 1.5% in November (October: +1.0%). This signals an improving trend in the industrial sector.

Lastly, output rose 1.3% month-on-month in November, up from the 1.2% increase logged in October.

FocusEconomics panelists see industrial production increasing 4.3% in 2021, which is unchanged from the previous month’s forecast. For 2022, our panelists expect industrial production to increase 4.0%.


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Turkey Industry November 20 20

Note: Annual and monthly variation of industrial production index in %..
Source: Turkish Statistical Institute (TurkStat) and FocusEconomics calculations.


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