Industry in Turkey
Turkey - Industry
Industrial production falls sharply in October
Industrial production declined 5.7% in October in calendar-adjusted year-on-year terms, a deterioration from September’s revised 2.4% decrease (previously reported: -2.7% year-on-year). October’s reading was driven by contractions in the manufacturing, and electricity, gas, steam and air conditioning supply sectors, while the mining and quarrying sector grew solidly.
On a seasonally- and calendar-adjusted month-on-month basis, industrial output fell 1.9%, up from September’s 2.6% drop. Annual average growth in industrial output fell from 6.9% in September to 5.7% in October.
Industrial production is likely to remain soft in the months ahead due to subdued domestic demand, tight financial conditions and elevated inflation putting pressure on firms’ margins. However, industrial production should gradually improve later next year and the year after, with FocusEconomics Consensus Forecast panelists expecting industrial production to rise 1.7% in 2019 and 3.8% in 2020.
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||17.30||-0.09 %||Dec 14|
|Exchange Rate||5.36||-0.85 %||Dec 14|
|Stock Market||90,529||1.41 %||Dec 14|
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December 17, 2018
Industrial production declined 5.7% in October in calendar-adjusted year-on-year terms, a deterioration from September’s revised 2.4% decrease (previously reported: -2.7% year-on-year).
December 13, 2018
At its monetary policy meeting on 13 December, the Central Bank of the Republic of Turkey (CBRT) left the one-week repo rate unchanged at 24.00% for the second consecutive month.
December 11, 2018
The current account balance recorded a USD 2.8 billion surplus in October, up from September’s USD 1.8 billion surplus and a marked turnaround from the USD 3.8 billion deficit observed in the same month last year.
December 10, 2018
According to data released by Turkstat on 10 December, the Turkish economy lost further steam in Q3, amid significant financial market and exchange-rate turbulence, soaring inflation and higher interest rates during the period.
December 3, 2018
The Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased from 44.3 in October to 44.7 in November.