Turkey Industry July 2020

Turkey

Turkey: Industrial output notches quickest growth since February in July

September 14, 2020

Industrial output rose 4.4% year-on-year in July (June: +0.4% yoy). The print marked the strongest rise since February. July's upturn was primarily driven by an improvement in mining and quarrying and manufacturing output.

Meanwhile, the trend improved with the annual average variation of industrial production coming in at minus 1.2% in July, up from June's minus 1.6%.

Furthermore, output rose 8.4% month-on-month, slowing from June’s 17.8% surge.

FocusEconomics panelists see industrial production falling 6.0% in 2020, which is down 0.4 percentage points from the previous month’s forecast. For 2021, our panelists expect industrial production to increase 6.5%.


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Turkey Industry July 20 20

Note: Annual and monthly variation of industrial production index in %.
Source: Turkish Statistical Institute (TurkStat) and FocusEconomics calculations.


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