Turkey Industry


Turkey: Industrial production decelerates in November

January 8, 2016

In November, industrial production expanded a calendar-adjusted 3.5% over the same month last year, which was below the 4.7% increase tallied in October (previously reported: +4.6% year-on-year). November’s result undershot the 4.3% increase that market analysts had expected. According to the statistical institute, the result reflected a broad-based deterioration. Growth in both manufacturing production and electricity, gas and steam moderated in November, while mining and quarrying recorded a steeper drop in the same month.

A month-on-month comparison corroborates the deterioration suggested by the annual figures as industrial production swung from a 0.2% expansion in seasonally- and calendar-adjusted terms in October to a 0.9% decrease in November. Annual average growth in industrial output rose from October’s 2.7% to 3.0% in November.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.2% in 2016, which is down 0.1 percentage points from last month’s estimate. The panel sees industrial output increasing 3.6% in 2017.

Author: Ricard Torné, Lead Economist

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Turkey Industry Chart

Turkey Industry November 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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