Turkey Industry June 2019

Turkey

Turkey: Industrial output declines in June

August 16, 2019

Turkish industrial production fell 3.9% year-on-year in June, down from May’s 1.3% fall. The drop in production was driven by faltering manufacturing output, while the electricity, gas and steam, and mining and quarrying sectors rose.

Sequential data was also downbeat; industrial output fell 3.7% over the prior month in June on a seasonally- and calendar-adjusted basis, contrasting May’s 1.2% increase (previously reported: +1.3% quarter-on-quarter seasonally adjusted).

FocusEconomics Consensus Forecast panelists expect industrial production to decline 2.1% in 2019. Next year, industrial output is expected to grow 2.7%.


Author:, Economist

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Turkey Industry June 2019 0

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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