Turkey: Industrial production picks up strongly in September
November 11, 2011
In September, industrial production expanded 12.0% over the same month last year. The reading was well above the 3.8% rise tallied in August and strongly beat market expectations, which saw output expanding by just 6.4%. A month-on-month comparison corroborates the acceleration suggested by annual figures, as industrial production expanded a seasonally and calendar-adjusted 1.5% in September, which contrasted the 2.6% drop in August. As a result, the trend points upwards, with annual average growth in industrial production inching up from 10.2% in August to 10.3% in September. The government expects the economy to grow 7.5% this year and 4.0% next year.