Turkey Industry

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Turkey: Industrial production accelerates in April

June 6, 2014

In April, industrial production expanded a calendar-adjusted 4.6% over the same month last year, which was above the 4.2% increase tallied in March and represented the strongest growth in three months. The print overshot the 3.3% increase that market analysts had expected. According to the statistical institute, April’s slight acceleration reflected faster growth in the mining and quarrying sector as well as in the electricity, gas and steam category. Conversely, growth in manufacturing output moderated in April.

A month-on-month comparison corroborates the improvement suggested by the annual figures as industrial production expanded 1.0% in seasonally and calendar-adjusted terms, which contrasted the 0.3% decrease tallied in March. Annual average growth in industrial output inched up from 4.0% in March to 4.2% in April, which represented the highest level since August 2012.

FocusEconomics Consensus Forecast participants expect industrial production to expand 2.7% in 2014, which is down 0.1 percentage points from last month’s forecast. Next year, the panel expects industrial output to increase 4.3%.


Author: Ricard Torné, Head of Economic Research

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Turkey Industry April 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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