Turkey Industry

Turkey

Turkey: Growth in industrial production slows in September

November 10, 2014

In September, industrial production expanded a calendar-adjusted 2.2% over the same month last year, which was below the 5.2% increase tallied in August. The print represented the weakest growth in three months and undershot the 4.1% increase that market analysts had expected. According to the statistical institute, September’s reading reflected decelerations in all the main categories, with manufacturing output slowing to a 21-month low.

A month-on-month comparison does not corroborate the deterioration suggested by the annual figures as industrial production expanded 1.7% in seasonally- and calendar-adjusted terms. The reading contrasted the 1.1% decrease tallied in August. Annual average growth in industrial output fell from 4.5% in August to 4.1% in September.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.5% in 2014, which is unchanged from last month’s estimate. The panel sees industrial output increasing 4.1% in 2015, which is also unchanged over the previous month’s estimate.


Author: Ricard Torné, Lead Economist

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Turkey Industry September 2014

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Turkish Statistical Institute (TurkStat) and FocusEconomics calculations.


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