Turkey: Industrial output growth deteriorates in June
August 12, 2022
Industrial output increased 8.5% compared to the same month a year earlier in June, which followed May's 9.0% increase. June's figure was chiefly due to a further deterioration in mining and quarrying production, as it recorded the weakest reading since June 2020. In addition, manufacturing production lost steam.
Meanwhile, annual average industrial production growth fell to 10.5% in June (May: +11.7%), signaling a worsening trend in the industrial sector. Lastly, industrial production rose from 0.49% in May to 1.28% in June on a seasonally- and calendar-adjusted basis.