Turkish industrial output grows year-on-year in December, falls sequentially

Turkish industrial production dropped in December on a sequential basis. On a seasonally and calendar adjusted basis, the nation’s industrial output fell 0.2 percent in the month as compared to the previous month, according to Turkish Statistical Institute. Within the industry, mining and quarrying output fell by 3.4 percent, while electricity, gas, steam and air conditioning supply index dropped 0.2 percent sequentially in December. Meanwhile, manufacturing output remained the same.

On a year-on-year basis, Turkey’s industrial production grew in the month. On a calendar adjusted basis, the industrial output rose 1.3 percent from the same month in 2015. Within the industry, mining and quarrying dropped 7.5 percent. Meanwhile, manufacturing output was up 1.3 percent, whereas electricity, gas, steam and air conditioning supply index rose 4.8 percent year-on-year.

In the fourth quarter of 2016, Turkish industrial output was up 3.9 percent as compared with the third quarter of 2016. Meanwhile, on a year-on-year basis, the output rose 2.1 percent in the December quarter.

The biggest decline within the main industrial groupings was seen in intermediate goods that dropped 1.8 percent sequentially in the month. Within the sub sectors, the largest fall was seen in manufacture of computer, electronic and optical products, which dropped 15.1 percent. This was followed by an 8.3 percent sequential decline in repair and installation of machinery and equipment and manufacture of other non-metallic mineral products.

Meanwhile, the highest rise within the sub sectors was seen in manufacture of basic pharmaceutical products and preparations, which grew 27.3 percent sequentially. It was followed by output of other transport equipment and of wearing apparel that rose 8.5 percent and 4.4 percent respectively in December as compared with the previous month.