Turkey: Industrial production contracts in September
November 16, 2018
Industrial production declined 2.7% in September in calendar-adjusted year-on-year terms, contrasting August’s revised 1.6% increase (previously reported: +1.7% year-on-year). September’s reading was driven by contractions in the manufacturing, and electricity, gas, steam and air conditioning supply sectors, while the mining and quarrying sector grew solidly.
On a seasonally- and calendar-adjusted month-on-month basis, industrial output fell 2.7%, down from August’s 1.3% drop. Annual average growth in industrial output fell from 8.3% in August to 6.9% in September.
Author: Oliver Reynolds, Economist