Turkey Industry March 2017


Turkey: Industrial production growth picks up pace in March

May 8, 2017

Industrial production in Turkey rose by a calendar-adjusted 2.8% in March compared to the same month last year, well above February’s 1.0% increase. According to the Statistical Institute, the acceleration was due to a better performance in the manufacturing sector and a smaller contraction in mining and quarrying output growth.

Industrial production expanded by 1.3% in seasonally- and calendar-adjusted month-on-month terms in March, contrasting February’s 0.4% drop. Annual average growth in industrial output was steady in March at February’s 1.3%.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.4% in 2017, which is down 0.1 percentage points from last month’s estimate. The panel sees industrial output increasing 3.0% in 2018.

Author: Angela Bouzanis, Senior Economist

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Turkey Industry Chart

Turkey Industry March 2017

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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