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.