Industrial output in Türkiye down 1.3% year-on-year in Nov

Türkiye’s calendar-adjusted industrial production decreased by 1.3% in Nov. 2022 on a yearly basis, the country’s statistical authority announced on Tuesday.

The mining and quarrying sub-index posted a yearly decline of 8.6% in the month, while electricity, gas, steam and air conditioning supply sub-index and manufacturing sub-index fell by 7.9% and 0.4%, respectively, the Turkish Statistical Institute (TurkStat) announced.

The industrial production index was also down by 1.1% on a monthly basis in November.

“When the subsectors of the industry were examined, the mining and quarrying index decreased by 1.3%, manufacturing index decreased by 1.0% and electricity, gas, steam and air conditioning supply index decreased by 2.3% in November 2022 compared to the previous month,” according to TurkStat.

Economists participating in the Anadolu Agency (AA)’s Industrial Production Expectation Survey expected the calendar-adjusted industrial production index to decrease by 0.5% in November compared to the same period of the previous year.

The unadjusted industrial production index was also predicted to decrease by 1.6% on an annual basis.

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