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Turkey’s factory output rises less than expected in June

by ChemOrbis Editorial Team -
  • 08/08/2017 (15:12)
According to data released by the Turkish Statistical Institute, the country’s industrial production increased 3.4% in June on a yearly basis, falling below Bloomberg economists’ forecast of a 3.6% increase. In addition, the country displayed a weaker performance on a monthly basis with industrial production declining by 0.4% against the economists’ expectations of a 0.4% gain.

The data showed that the highest decrease was seen in manufacture of tobacco products by 7.3%, followed by manufacture of basic pharmaceutical products and pharmaceutical preparations by 5.6% and manufacture of coke and refined petroleum products by 4.6% compared with previous month.

The largest increase was in manufacture of computer, electronic and optical products on a monthly basis.

Meanwhile, Turkey’s seasonally and calendar adjusted industrial production climbed 1.7% in the second quarter of 2017compared to the previous quarter.
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