Turkey: Industrial production accelerates in February
April 9, 2012
In February, industrial production expanded 4.4% over the same month last year. The reading was above both the 1.5% rise recorded in January as well as market expectations of a 2.7% increase. The acceleration over the previous month was broad-based, with all three sub-sectors expanding at a faster pace than in February. A month-on-month comparison corroborates the improvement reflected in the annual figures, as industrial production grew a seasonally and calendar-adjusted 0.6% in February, which contrasted the 3.0% contraction observed in January. Nevertheless, the trend continues to point downwards, with annual average growth in industrial production falling from 7.6% in January to 6.9%.