Turkish Industrial Production: growth recorded
For the first period in 13 months, industrial production returned to rise, with output growing 3.4 percent year-on-year in September 2019, up from the 3.6 percent contraction reported in August 2019.
ING Turkey, saw that the “uptrend” in industrial production on an yearlyl period “will be more presentt and stronger in the months ahead with large base effects.”
The print was, however, slightly below analyst expectations of a yearly growth of 3.6 percent. A sector-by-sector overview did show that the development was broad-based as an increase was reported in all 3 major sectors, with the mining and quarrying sector leading the way with a sharp increase in output, followed by manufacturing.
In the meantime, there has been a minor development in the electricity, gas and steam sector.
On a month-on-month calendar adjusted perod, industrial output reaches 3.2% in September 2019, contrasting the 2.7% fall in August 2019 ( previously reported as-4.3% month-on-month).
Prediction interviewees foresee a 3.0 percent increase in industrial production in 2020 and a 3.2 percent increase in 2021.