Turkey: Growth in industrial production reaches four-month high
January 8, 2015
In December, industrial production expanded a calendar-adjusted 2.6% over the same month of the previous year, which was well above the 0.7% increase tallied in November and marked the fastest increase in four months. The print overshot the 2.0% increase that market analysts had expected. According to the statistical institute, December’s reading reflected an expansion in mining and quarrying as well as in manufacturing. On the other hand, electricity, gas and steam recorded a slight contraction over the same month of the previous year.
A month-on-month comparison corroborates the improvement suggested by the annual figures as industrial production rose 1.2% in seasonally- and calendar-adjusted terms. The reading contrasted the 0.1% decrease tallied in November. Annual average growth in industrial output fell from November’s 4.1% to 3.7% in December, thus marking a year low.