Turkey Industry September 2016

Turkey

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.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.3% in 2016, which is down 0.4 percentage points from last month’s estimate. The panel sees industrial output increasing 3.3% in 2017, which is down 0.2 percentage points from last month’s estimate.


Author:, Senior Economist

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Turkey Industry September 2016

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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