Turkey: Industrial production deteriorates in September
November 8, 2016
In September, industrial production contracted a calendar-adjusted 3.1% compared to the same month last year. This contrasted August’s 2.2% increase. According to the Statistical Institute, September’s contraction reflected a deterioration in the manufacturing sector, which swung from a 1.4% increase in August to a 3.7% decrease in September. Moreover, growth in the mining and quarrying sector decelerated from 4.3% in August to 2.3% in September.
A month-on-month comparison corroborates the deterioration suggested by the annual figures as industrial production decreased 3.8% in seasonally- and calendar-adjusted terms in September, which contrasted August’s 8.8% increase. Annual average growth in industrial output decreased from August’s 2.8% to 2.4% in September.
Author: Dirina Mançellari, Senior Economist