Turkey Industry

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Turkey: Industrial production loses steam in April

June 8, 2015

In April, industrial production expanded a calendar-adjusted 3.8% over the same month last year, which was below the 4.7% increase tallied in March. March’s print had marked the largest expansion in seven months. April’s result overshot the 2.6% expansion that market analysts had expected. According to the statistical institute, the slowdown reflected a broad-based deterioration across the index.

A month-on-month comparison corroborates the slowdown suggested by the annual figures as industrial production recorded zero growth in seasonally- and calendar-adjusted terms. The reading was below the 2.3% increase tallied in March (previously reported: +2.2% mom). Annual average growth in industrial output fell slightly from March’s 2.5% to 2.4% in April.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.3% in 2015, which is down 0.2 percentage points from last month’s estimate. The panel sees industrial output increasing 4.4% in 2016.


Author: Angela Bouzanis, Senior Economist

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Turkey Industry April 2015

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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