Turkey Industry October 2016

Turkey

Turkey: Industrial production improves in October

December 8, 2016

Industrial production increased by a calendar-adjusted 2.0% in October compared to the same month last year, contrasting the 3.1% fall registered in September. According to the Statistical Institute, October’s expansion was driven by growth in the manufacturing and electricity, gas, steam and air conditioning supply sub-sectors, which grew 1.7% and 5.7% respectively on a year-on-year basis. In contrast, the mining and quarrying sub-sector contracted by 0.4% in October compared to the same month last year.

Industrial production rose 3.7% in seasonally and calendar-adjusted month-on-month terms in October, a significant improvement from September’s 3.7% contraction. Annual average growth in industrial output decreased slightly from 2.4% in September to 2.2% in October.

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 October 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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