Industry in Turkey
Turkey - Industry
Industrial production contracts again in November
Industrial production declined 6.5% in November in calendar-adjusted year-on-year terms, a deterioration from October’s 5.7% decrease. November’s reading was driven by contractions in the manufacturing; mining and quarrying; and electricity, gas, steam and air conditioning supply sectors.
On a seasonally- and calendar-adjusted month-on-month basis, industrial output fell 0.3%, up from October’s 2.2% fall. Annual average growth in industrial output fell from 5.7% in October to 4.3% in November.
Industrial production is likely to remain weak 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 this year, as the economy recovers and interest rates decline. FocusEconomics Consensus Forecast panelists expect industrial production to rise 0.7% in 2019 and 3.3% 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||14.82||-0.09 %||Feb 20|
|Exchange Rate||5.32||-0.85 %||Feb 20|
|Stock Market||101,971||1.41 %||Feb 20|
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February 22, 2019
The Real Sector Confidence Index published by the Central Bank increased from 93.0 in January to 97.2 in February, the second consecutive monthly improvement.
February 20, 2019
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, worsened from 58.2 in January to 57.8 in February.
February 14, 2019
The current account balance recorded a USD 1.4 billion deficit in December, contrasting November’s revised USD 1.1 billion surplus (previously reported: USD 1.0 billion surplus) but down from the USD 7.8 billion deficit recorded in the same month a year prior.
February 4, 2019
Consumer prices rose 1.06% from the previous month in January, contrasting December’s 0.40% decline, according to data released by the Turkish Statistical Institute (Turkstat).
February 1, 2019
The Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, was stable at 44.2 in January.