Turkey’s calendar adjusted industrial output rises 4.2% y/y in March.

By bne IntelliNews May 8, 2014

The calendar adjusted industrial production index posted an increase of 4.2% y/y in March after rising 4.6% y/y in the previous month, the statistics institute TUIK said on Wednesday.

We calculated that, in unadjusted terms, industrial output grew 4.15% y/y, beating the market consensus forecast of a 3.4% increase. The output growth, on an unadjusted basis, slowed from February’s 4.6% y/y.

On a calendar & seasonally adjusted basis, industrial production fell for a second consecutive month, TUIK data showed. The calendar & seasonally adjusted production declined 0.4% % m/m in March.

On a calendar-adjusted basis, intermediate goods production rose 4.2% y/y in March, after increasing 6.2% y/y in the previous month while the rate of output growth in the durable consumer goods industry eased to 3.7% y/y from 5.2% y/y. Production in the capital goods manufacturing sector increased 3.4% y/y, comparing favourably with the 2.2% y/y increase in the previous month. Energy output that increased 5.8% y/y in February rose 4.4% in March. The output growth in the manufacturing industry quickened to 4.3% y/y from 4.1% y/y.

The manufacturing PMI fell for the second month to 51.1 in April, from 51.7 in March, pointing to loss of momentum in activity. PMI survey also showed that output and new orders both rose only marginally during the month but new export business increased at the strongest rate in over three years.

Industrial Production by main Industrial Groups (March)    
(%) Calendar Adjusted Seasonally & Calendar Adjusted
  (y/y) (m/m)
Total Industry 4.2 -0,4
Intermediate Goods 4.2 -0,4
Durable Consumer Goods 3.7 1,9
Non-durable Consumer Goods 4.7 1,3
Energy 4.4 0,3
Capital Goods 3.4 -3,9
Source: tuik

Related Articles

Turkish authorities reportedly plan to curb interest rate race for deposits

Turkish authorities are set to step in to end a potentially dangerous race among the country’s banks to attract deposits, fearing the aggressive strategy may hit the economy through higher lending ... more

Erdogan, Putin discuss deepening strategic relationship

Turkish President Recep Tayyip Erdogan and Russian leader Vladimir Putin on May 27 confirmed in a telephone call “the aspiration for further development of the strategic partnership,” the Kremlin ... more

Ankara bans all "protests" after dark, includes press events and group singing

Ankara has banned all "acts of protest" after dark. The wide-ranging ban, announced on May 26, even forbids press events, group singing and the shouting of slogans in public places after ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Dismiss