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.