Turkey’s April adjusted industrial production rises 3.8% y/y

By bne IntelliNews June 8, 2015

On a calendar-adjusted basis, Turkey’s industrial production rose 3.8% y/y in April (market forecast: 3.1% y/y), after increasing 4.7% y/y in the previous month, data of the statistics office TUIK showed on June 8.

Durable consumer goods production was up 6.5% y/y, energy output rose 1.2% y/y, capital goods production increased 14% y/y and manufacturing production showed a 4.6% y/y rise in the month.

Industrial production on a calendar and seasonally adjusted basis remained almost unchanged in April compared to March (market forecast: -0.27% m/m).

On an unadjusted basis, Turkey’s industrial production increased 3.7% y/y in the month (market forecast: 3% y/y) after rising 4.9% y/y in March.

Turkey’s latest PMI data suggested a slight improvement in manufacturing activity. In May, the headline PMI figure rose for the second month running from March’s 71- month low but, at 50.2, signaled only a fractional rate of improvement, Markit said on June 1.

Industrial Production by main Industrial Groups (April)

 

 

(%)

Calendar Adjusted

Seasonally & Calendar Adjusted

 

(y/y)

(m/m)

Total Industry

3.8

0.0

Intermediate Goods

-1.2

-0.4

Durable Consumer Goods

6.5

1.9

Non-durable Consumer Goods

5.5

-0.7

Energy

1.2

-0.2

Capital Goods

14.0

1.2

Source: tuik

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