Turkey: Industrial output notches best reading since March 2023 in December
Latest reading: Industrial output expanded 5.0% in month-on-month seasonally adjusted terms in December, which was above November’s 2.9% increase. The result marked the best reading since March 2023. December’s notable improvement was largely driven by faster growth in manufacturing output. In contrast, mining and quarrying output weakened.
On an annual basis, industrial output rose at a quicker rate of 7.1% in December (November: +1.7% yoy), the best result since February. Accordingly, the trend improved, with the annual average variation of industrial production coming in at 0.3%, contrasting November’s minus 0.1%.