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.
Author: Oliver Reynolds, Economist