Turkey: Industrial production contracts again in November
January 14, 2019
Industrial production declined 6.5% in November in calendar-adjusted year-on-year terms, a deterioration from October’s 5.7% decrease. November’s reading was driven by contractions in the manufacturing; mining and quarrying; and electricity, gas, steam and air conditioning supply sectors.
On a seasonally- and calendar-adjusted month-on-month basis, industrial output fell 0.3%, up from October’s 2.2% fall. Annual average growth in industrial output fell from 5.7% in October to 4.3% in November.
Author: Oliver Reynolds, Economist