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Turkey Industrial production June 2021

Turkey: Industrial output growth loses steam in June, but remains elevated

Industrial output rose 23.9% in year-on-year terms in June, which followed May’s 40.9% surge. June’s figure continued to benefited from a supportive base effect due to the Covid-19 pandemic, which weighed on activity. June’s reading reflected, furthermore, softer albeit still strong growth in the mining and quarrying; manufacturing; and, energy sectors.

Meanwhile, annual average industrial production growth rose to 18.5% in June (May: +16.5%). This signals an improving trend in the industrial sector.

On a seasonally- and calendar-adjusted bases, industrial production rose from a 1.3% expansion in May to a 2.3% increase in June, suggesting that underlying momentum firmed at the close of the second quarter.

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