Turkey: Industrial production decelerates in September
November 9, 2015
In September, industrial production expanded a calendar-adjusted 2.8% over the same month last year, which was notably below the 7.2% increase tallied in August. September’s result overshot the flat reading that market analysts had expected. According to the statistical institute, the result reflected a notable slowdown in manufacturing production as well as a sharp drop in mining and quarrying. Conversely, growth in the electricity, gas and steam category accelerated to a one-year high.
A month-on-month comparison corroborates the deterioration suggested by the annual figures as industrial production fell from a 3.0% expansion in seasonally- and calendar-adjusted terms in August to a flat reading in September. Annual average growth in industrial output rose from August’s 2.5% to 2.6% in September.