Industry in Turkey
Turkey - Industry
Industrial production growth ticks up slightly in May
Industrial production rose 6.4% in May in calendar-adjusted year-on-year terms, ticking up slightly from April’s revised 6.3% (previously reported: +6.2% yoy) and putting a stop to four consecutive monthly slowdowns.
May’s expansion was driven by a surge in the mining and quarrying sector and a solid performance from the manufacturing sector, while the electricity, gas and steam sector recorded a more modest expansion. However, on a seasonally- and calendar-adjusted month-on-month basis, industrial production shrank 1.6%, marking the worst reading in nearly two years and contrasting the previous month’s 1.0% growth.
Annual average growth in industrial output inched up from 9.9% in April to 10.0% in May.
Turkey Industrial Production Forecast
In annual terms, industrial production growth is likely to lose steam during the rest of the year. This is partly due to tough year-on-year comparatives, but is also a reflection of tighter financial conditions. FocusEconomics Consensus Forecast panelists expect industrial production to rise 4.6% in 2018 and 4.0% in 2019.
Turkey - Industry Data
|Industrial Production (annual variation in %)||7.2||5.7||5.8||3.4||8.9|
5 years of economic forecasts for more than 30 economic indicators.
Turkey Industry Chart
Source: Statistical Institute.
|Bond Yield||20.59||-0.09 %||Aug 15|
|Exchange Rate||5.99||-0.85 %||Aug 15|
|Stock Market||90,263||1.41 %||Aug 15|
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August 10, 2018
The current account balance recorded a USD 3.0 billion deficit in June, USD 0.8 billion smaller than the deficit recorded in June 2017.
August 3, 2018
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August 1, 2018
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On 9 July President Erdogan announced his cabinet, which is a mixture of loyalists and ministers drawn from the private sector.
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