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Turkey Industrial production April 2024

Turkey: Industrial activity contracts at sharper pace in April

Industrial output dived 5.1% in month-on-month seasonally adjusted terms in April, which was a larger contraction than March’s 0.4% decrease. April’s figure marked the worst reading since February 2023. The downturn was largely driven by a deterioration in manufacturing output. In contrast, mining and quarrying production gained steam.

On an annual basis, industrial output fell 0.6% in April (March: +4.2% yoy), the worst result since April 2023. That said, the trend improved slightly, with the annual average growth of industrial production coming in at 3.3% in April, up from March’s 3.2%.

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