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.