Turkey’s industrial production up on year, down on month in Aug

According to data released by the Turkish Statistical Institute, the country’s industrial production increased by 5.2% compared with same month of previous year, exceeding Bloomberg economists’ forecast of a 5.1% increase. On the other hand, industrial output fell by 0.1% compared with previous month, falling short of economists’ expectations of an increase of 0.5%.

The largest monthly increase was seen in the manufacture of basic pharmaceutical products and pharmaceutical preparations by 11.8%, according to data.
The data revealed that the highest decrease was in capital goods by 3.7% in August, compared with July.

In the sub sectors, the highest monthly decrease was reported in the manufacture of computer, electronic and optical products by 16.8%; of motor vehicles, trailers and semi-trailers by 13.3% and of manufacture of repair and the installation of machinery and equipment by 10.6% in August month-on-month.