Turkey: Industrial production undershoots market expectations
January 9, 2011
In November, industrial production expanded 8.4% over the same month the previous year. The reading was above the 7.4% rise tallied in October, but still undershot market expectations of a stronger 10.0% increase, thus corroborating the slowdown in economic activity amid dwindling demand in the Eurozone. A month-on-month comparison does not corroborate the strong annual figures, as industrial production contracted a seasonally and calendar-adjusted 2.5% in November, which contrasted the strong 4.2% increase in October. Annual average growth in industrial production inched down from 10.1% in October to 10.0% in November.