Turkey: Industrial production growth continues its downward trend in April
June 13, 2018
Industrial production rose 6.2% in April in calendar-adjusted year-on-year terms, moderating from March’s revised 7.8% jump (previously reported: +7.6% year-on-year) and marking the fourth consecutive monthly slowdown.
April’s expansion was driven by solid growth in the mining and quarrying and manufacturing sectors, while the electricity, gas and steam sector recorded a more modest expansion. On a seasonally- and calendar-adjusted month-on-month basis, industrial production grew 0.9% in April, up from March’s 0.2% expansion. Annual average growth in industrial output dipped from 10.1% in March to 9.9% in April.
Author: Oliver Reynolds, Economist