Turkey Industry November 2016

Turkey

Turkey: Industrial production improves further in November

January 9, 2017

Industrial production increased by a calendar-adjusted 2.7% in November compared to the same month last year, following the 2.0% increase registered in October. According to the Statistical Institute, November’s expansion was driven by growth in the manufacturing and electricity, gas, steam and air conditioning supply sub-sectors. Moreover, the mining and quarrying sub-sector swung from a 0.4% drop in October to a 1.8% increase in November.

Industrial production was flat in seasonally and calendar-adjusted month-on-month terms in November, a significant deterioration from October’s 3.7% increase. Annual average growth in industrial output decreased slightly from 2.2% in October to 2.1% in November.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 2.8% in 2016, which is down 0.5 percentage points from last month’s estimate. The panel sees industrial output increasing 3.1% in 2017, which is down 0.2 percentage points from last month’s forecast.


Author:, Economist

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Turkey Industry November 2016

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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