Industrial production up for 11th month in row

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Industrial production in Turkey improved by 0.7% month-on-month in March and 16.6% annually, the country’s official statistical department said on May 11.

The index has been posting monthly increases since May 2020 and rising annually since June 2020, according to data by the Turkish Statistical Institute (TÜİK)

On a monthly basis and by sub-sectors, the mining and quarrying index was down by 1.7%, while the manufacturing and electricity-gas-steam-air-conditioning supply indices increased by 0.3% and 7.3%, respectively, in March.

Annually, all sub-sectors posted increases, electricity-gas-steam-air-conditioning supply by 11.9%, mining and quarrying by 14.8% and manufacturing by 17.2%.

According to an Anadolu Agency survey on Thursday, a group of eight economists’ expectation for Turkey’s calendar-adjusted industrial production index was for an increase of 13.8% annually – ranging between 9.85% and 17.7%.

The term “calendar-adjusted” is used to refer to data without calendar and holiday-originated effects.

In February, the adjusted industrial production indices on a monthly and annual basis were up 0.2% and 8.9%, respectively.

Hurriyet Daily News

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