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Turkey Industrial Production Decline Slows In January

Turkey’s industrial production decreased for a fifth consecutive month in January, but the pace of decline slowed, data from the Turkish Statistical Institute showed on Thursday.

Industrial production fell calendar adjusted 7.3 percent year-on-year in January, after a 10.0 percent decline in December. Economists had expected production to fall 8.0 percent.

Among sectors, manufacturing fell by 7.5 percent annually in January following a 10.8 percent decline in mining and quarrying.

Production of intermediate goods, non-durable consumer goods, energy and capital goods decreased, while that of durable goods increased.

On a month-on-month basis, industrial production rose seasonally and calendar adjusted 1.0 percent in January, after falling 1.3 percent in the previous month. Output rose after falling for five months in a row.

The material has been provided by InstaForex Company – www.instaforex.com