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Turkey Industry May 2018

Turkey: Industrial production growth ticks up slightly in May

Industrial production rose 6.4% in May in calendar-adjusted year-on-year terms, ticking up slightly from April’s revised 6.3% (previously reported: +6.2% yoy) and putting a stop to four consecutive monthly slowdowns.

May’s expansion was driven by a surge in the mining and quarrying sector and a solid performance from the manufacturing sector, while the electricity, gas and steam sector recorded a more modest expansion. However, on a seasonally- and calendar-adjusted month-on-month basis, industrial production shrank 1.6%, marking the worst reading in nearly two years and contrasting the previous month’s 1.0% growth.

Annual average growth in industrial output inched up from 9.9% in April to 10.0% in May.

Turkey Industrial Production Forecast

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