Turkey: Growth in industrial production hits five-month high in January
March 8, 2016
In January, industrial production expanded a calendar-adjusted 5.6% compared to the same month last year, which was above the revised 4.6% increase tallied in December (previously reported: +4.5% year-on-year). January’s result overshot the 4.0% increase that market analysts had expected. According to the statistical institute, the result reflected an acceleration in manufacturing output and a rebound mining and quarrying. Conversely, growth in electricity, gas and steam decelerated in January.
A month-on-month comparison corroborates the improvement suggested by the annual figures as industrial production rose 1.0% in seasonally- and calendar-adjusted terms in January, which was above the 0.8% increase in December. Annual average growth in industrial output rose from December’s 3.1% to 3.7% in January, which marked a 14-month high.