Turkey Industrial production September 2020

Turkey

Turkey: Industrial output growth eases in September

November 13, 2020

Industrial production expanded 8.1% year-on-year in September (August: +10.6% yoy) as the economy continued to gain traction at the close of the third quarter. The print was driven by stronger growth in electricity, gas and steam; however, softer expansions in manufacturing, and mining and quarrying capped the overall increase.

Meanwhile, the trend improved notably, with the annual average variation of industrial production rising 0.4% in September after flatlining in August.

Lastly, industrial output rose 1.7% month-on-month in September, down from August’s 3.4% increase.

FocusEconomics panelists see industrial production increasing 4.3% in 2021, which is down 0.2 percentage points from the previous month’s forecast. For 2022, our panelists expect industrial production to increase 3.9%.


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Turkey Industry September 20 20

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


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