Turkey Industry

Turkey

Turkey: Industrial production picks up pace in June

August 10, 2015

In June, industrial production expanded a calendar-adjusted 5.5% over the same month last year, which was above the 2.4% increase tallied in May. June’s result marked the largest expansion since January 2014 and overshot the 3.0% expansion that market analysts had expected. According to the statistical institute, the increase reflected an improvement in mining and quarrying production, as well as a faster expansion in manufacturing.

A month-on-month comparison corroborates the improvement suggested by the annual figures as industrial production rebounded from a revised 1.9% contraction in seasonally- and calendar-adjusted terms (previously reported: -2.0% month-on-month) to a 2.4% expansion. Annual average growth in industrial output rose slightly from May’s 2.3% to 2.6% in June.

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 June 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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