Turkey Industrial production August 2021

Turkey

Turkey: Industrial output growth improves in August

October 14, 2021

Industrial output expanded 13.8% compared to the same month of the previous year in August, which followed July's 9.7% increase. Looking at the details of the release, mining and quarrying output slowed in August, while manufacturing output accelerated.

Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at plus 17.3% in August, up from July's 17.1% reading.

On a seasonally-adjusted month-on-month basis, industrial production expanded 5.4% in August (July: -3.4% mom).

FocusEconomics panelists see industrial production increasing 15.7% in 2021, which is up 3.0 percentage points from the previous month’s forecast. For 2022, our panelists expect industrial production to increase 5.0%.


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Turkey Industrial production Chart


Turkey Industry August 2021

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


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