Turkey: Industrial production growth moderates in February
April 8, 2011
In February, industrial production expanded 13.9% over the same month last year, slowing from the 19.0% rise tallied in January. The reading, which undershot market expectations of a 16.0% expansion, was driven by a 14.7% increase in the manufacturing component. A month-on-month comparison confirms the deceleration suggested by annual figures, with industrial production declining a seasonally and calendar adjusted 1.7% in February (January: +0.5% mom). Owing to February's slowdown, the trend has begun to point downwards, with annual average growth in industrial production weakening from 13.6% in January to 13.4% in February.