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.