Turkey: Industrial output deteriorates in October
Latest reading: Industrial output dropped 1.0% in month-on-month seasonally adjusted terms in October, which contrasted September’s 1.7% increase. The notable weakening was largely driven by a contraction in manufacturing production. In addition, mining and quarrying output fell.
On an annual basis, factory output fell 3.1% in October, which was below September’s 2.4% fall. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.1% in October, contrasting September’s plus 0.4%.