Turkey: Industrial output dips in March
Industrial output fell 0.4% in month-on-month seasonally adjusted terms in March, which contrasted February’s 2.9% increase. March’s notable weakening was largely driven by a deterioration in manufacturing production. In contrast, mining and quarrying production rebounded.
On an annual basis, industrial output rose at a softer pace of 4.2% in March (February: +11.2% yoy). Meanwhile, the trend improved modestly, with the annual average growth of industrial production coming in at an over one-year high of 3.2% in March, up from February’s 2.9% reading.