Turkey: Industrial output growth dips in June
Latest reading: Industrial production increased 0.7% month-on-month in seasonally adjusted terms in June (May: +3.2% mom s.a.). The slowdown was largely driven by a deterioration in manufacturing production growth. In addition, mining and quarrying production fell notably.
On an annual basis, industrial production rose at a quicker rate of 8.3% in June (May: +5.0% yoy), the best result since February 2024. Accordingly, the trend improved significantly, with the annual average variation of industrial production coming in at 1.1%, up from May’s 0.0%.