Turkey: Industrial production growth continues to slide in March, but remains solid
May 16, 2018
Industrial production rose 7.6% in March in calendar-adjusted year-on-year terms, moderating from February’s revised 10.1% jump (previously reported: +9.9% year-on-year) and marking the third consecutive monthly slowdown.
March’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 0.2% in March, contrasting February’s 0.2% contraction. Annual average growth in industrial output increased to 10.1% in March from 10.0% in February.
Author: Oliver Reynolds, Economist