Turkey: Industrial output growth deteriorates in May
Industrial output increased 9.1% compared to the same month a year earlier in May, which followed April’s 10.8% increase. May’s figure was largely due to a 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 11.7% in May (April: +13.8%), signaling a worsening trend in the industrial sector.