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
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Industrial Production (annual variation in %) | 7.2 | 5.7 | 5.8 | 3.4 | 8.9 |
Turkey Industry Chart
Source: Statistical Institute.
Turkey Facts
| Value | Change | Date | |
|---|---|---|---|
| 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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