Turkey: Industrial production growth slumps in August
October 16, 2018
Industrial production rose 1.7% in August in calendar-adjusted year-on-year terms, down markedly from July’s 5.6% expansion. August’s deceleration was driven by weaker growth in the manufacturing; mining and quarrying; and electricity, gas, steam and air conditioning supply sectors.
On a seasonally- and calendar-adjusted month-on-month basis, industrial output declined 1.1%, contrasting July’s 3.5% expansion.
Annual average growth in industrial output fell from 8.9% in July to 8.3% in August.
Turkey Industrial Production Forecast
Industrial production is likely to continue to perform poorly in the remainder of the year, dampened by high domestic interest rates and elevated inflation. FocusEconomics Consensus Forecast panelists expect industrial production to rise 4.1% in 2018 and 2.8% in 2019.
Author: Oliver Reynolds, Economist