Turkey: Industrial output decelerates in April for a third consecutive month
June 8, 2011
In April, industrial production expanded 8.3% over the same month last year, which came in below the 10.2% rise tallied in March, decelerating for the third consecutive month. The reading, which undershot market expectations of a 9.7% increase, reflected a moderation of growth in the manufacturing sector. A month-on-month comparison confirms the deceleration suggested by annual figures, with industrial production declining a seasonally and calendar adjusted 0.6% in April, on top of a 0.5% drop in March. Owing to the recent slowdown, the trend now points downwards, with annual average growth in industrial production weakening from 12.5% in March to 11.8% in April.