Turkey Industrial production September 2021

Turkey

Turkey: Industrial output records slowest growth a year in September

November 12, 2021

Industrial output grew 8.9% year-on-year in September (August: +14.0% yoy). The result marked the worst reading since September 2020. Looking at the details of the release, mining and quarrying production softened in September, and manufacturing output also slowed.

On a monthly basis, industrial production contracted 1.5%, swinging from the 5.6% expansion recorded in August.

Meanwhile, annual average growth of industrial production was stable at August's 17.4% in September.

FocusEconomics panelists see industrial production increasing 4.6% in 2022, which is unchanged from the previous month’s forecast. For 2023, our panelists expect industrial production to increase 3.3%.


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Turkey Industrial production Chart


Turkey Industry September 2021 0

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


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