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Turkey Industrial production February 2024

Turkey: Industrial output grows at fastest pace since March 2023 in February

Industrial production expanded 3.2% month-on-month in seasonally adjusted terms in February (January: +0.3% mom). The print marked the best reading since March 2023. February’s figure was largely driven by a notable rebound in manufacturing output. In contrast, mining and quarrying production fell.

On an annual basis, factory output rose at a quicker rate of 11.6% in February (January: +1.2% yoy), the best result since February 2022. Meanwhile, annual average industrial production growth rose to 2.9% in February (January: +1.4%). This signals an improving trend in the industrial sector.

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