Turkey Industry

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Turkey: Industrial production accelerates in October

December 8, 2015

In October, industrial production expanded a calendar-adjusted 4.6% over the same month last year, which was above the 2.8% increase tallied in September. October’s result overshot the 3.9% increase that market analysts had expected. According to the statistical institute, the result reflected a notable acceleration in manufacturing production as well as a softer drop in mining and quarrying. Conversely, growth in the electricity, gas and steam category decelerated in the same month.

A month-on-month comparison corroborates the improvement suggested by the annual figures as industrial production swung from a 0.1% contraction in seasonally- and calendar-adjusted terms in September to a 0.1% increase in October. Annual average growth in industrial output rose from September’s 2.6% to 2.7% in October.

FocusEconomics Consensus Forecast participants expect industrial production to rise 2.8% in 2015, which is down 0.1 percentage points from last month’s estimate. The panel sees industrial output increasing 3.4% in 2016, which is unchanged from last month’s projection.


Author: Ricard Torné, Lead Economist

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Turkey Industry October 2015

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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