Turkey: Industrial production contracts sharply in December
February 14, 2019
Industrial output dropped 9.8% in December in calendar-adjusted year-on-year terms, a near-decade low and down from November’s revised 6.6% contraction (previously reported: -6.5% year-on-year). The marked downturn came on the back of decreased output in manufacturing; mining and quarrying; and electricity, gas, steam and air conditioning supply, in descending order of magnitude.
On a seasonally- and calendar-adjusted basis, industrial production fell 1.4% in December over the prior month, down from November’s 0.3% contraction. Annual average growth in industrial production eased to 2.4% in December from 4.3% in November.
Author: Jan Lammersen, Economist