Turkey’s industrial production declines in September

Turkey’s industrial production dropped in September on a year-on-year basis after increasing in August. Adjusted for calendar, the nation’s industrial production dropped 3.1 percent, stated Turkish Statistical Institute. Within the sub sectors of the industry, quarrying and mining index rose 2.3 percent, whereas manufacturing index fell 3.7 percent. Utility index dropped 1.2 percent year-on-year in September.

The largest fall in main industrial groupings was seen in durable consumer goods, which dropped 14.2 percent. Within the manufacturing industry, the biggest drop was seen in furniture manufacturing, which fell 20.4 percent. This was followed by decline in production of pharmaceutical preparations and manufacture of basic pharmaceutical products, which fell 16.9 percent.

Within manufacturing, the highest increase was seen in production of coke and refined petroleum products, which rose 8.5 percent. This was followed by production of machinery and equipment, which increased 3.9 percent.

On a quarter-on-quarter basis, the seasonally and calendar adjusted industrial production dropped 3.1 percent in the third quarter.