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Turkey Industrial production January 2024

Turkey: Industrial output stagnates in January

Industrial production was flat month-on-month in seasonally adjusted terms in January (December: +2.8% mom). The notable weakening was largely driven by a deterioration in manufacturing output. In contrast, mining and quarrying production rebounded.

On an annual basis, industrial output grew 1.0% in January, which was below December’s 2.3% expansion and marked the worst result since June 2023. Accordingly, annual average industrial production growth fell to 1.4% in January (December: +1.6%), signaling a worsening trend in the industrial sector.

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