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Turkey’s industrial production beats expectations in Jan

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/03/2016 (11:58)
According to data from the Turkish Statistical Institute, Turkey’s industrial production rose 1% on a seasonally and calendar adjusted basis in January from December, beating economists’ expectations, which called for a decrease of 0.9% in a survey by Bloomberg. On a yearly basis, meanwhile, industrial production posted an increase of 5.6% on a calendar adjusted basis. Bloomberg economists had expected industrial production to increase 4% in January compared with the same month of 2015.

In the sub sectors, the manufacturing index increased 1.5% while the electricity, gas, steam and air conditioning supply index declined 1.1% in January when compared to the previous month. The mining and quarrying index was also down 2.2% from a month earlier. On a yearly basis, the manufacturing index rose 5.8% while the mining and quarrying index climbed 4.1% compared with the same month of 2015. The electricity, gas, steam and air conditioning supply index, meanwhile, rose 5.2% year over year in January.

On a seasonally and calendar adjusted basis, the highest monthly gain among the main industrial groupings was reported in non-durable consumer goods, which climbed 4.3% in January compared with the previous month.
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