Turkey’s industrial turnover index up 3.8% m/m in June

By bne IntelliNews August 13, 2015

On a seasonally & calendar-adjusted basis, the industrial turnover index rose 3.8% m/m in June, after declining 1.5% m/m in May, the statistics institute TUIK said on August 13.

Turnover in the intermediate goods sector rose 3.6% m/m, comparing favourably with the 1.1% m/m decrease in the previous month, while the durable consumer goods industry saw its turnover rise 10.3% m/m in June that followed an 3.7% m/m decrease in May.

Data of TUIK also showed that on a calendar-adjusted basis the turnover increased 11.3% y/y in June after rising 8.5% y/y in May.

On a calendar adjusted basis Turkey’s industrial production rose by 5.5% y/y in June, higher than the market consensus forecast of 3% and much better than the 2.4% y/y rise recorded in June, data of the statistics office showed on August 7, raising hopes of recovery in economic activity in the coming months. The latest PMI survey suggested that manufacturing activity could have gained further momentum in July. The PMI increased to 50.1 in July, from 49.0 in June. But there are downside risks to the growth outlook, including uncertainties in domestic politics and the renewed clashes with the PKK.

Industrial Turnover Index (y/y, calendar-adjusted)            
(%) Dec-13 Dec-14 Jan Feb Mar Apr May Jun
Total Industry 17.1 8.6 -5.5 -0.6 6.0 8.9 8.5 11.3
Intermediate Goods 20.9 1.7 -11.3 -5.4 3.1 4.7 6.8 9.0
Durable Consumer Goods 5.0 4.1 -6.6 -1.4 -1.8 13.3 5.8 17.4
Energy 9.2 -24.8 -34.2 -27.3 -17.3 -6.5 8.9 4.4
Capital Goods 19.4 27.7 7.6 11.4 14.3 19.6 7.4 18.9
Manufacturing 17.6 9.0 -4.9 -0.2 6.7 9.2 8.8 11.6
Source: TUIK                

Related Articles

Turkish exporters' association chief dismisses benefits of fast depreciating lira

The fast depreciation that has afflicted the Turkish lira in recent weeks does not bode well for the Turkish economy and the central bank should be more proactive in combating it when necessary, ... more

Turkish central bank releases $500mn of liquidity via new deposit swaps market

The Turkish central bank on January 18 provided around $500mn of liquidity with a maturity of one-week to Turkish lenders at the first auction held under the scope of the newly launched FX ... more

Turkish prosecutors demand lifetime jail sentences for leaders of pro-Kurdish HDP

Turkish prosecutors have demanded up to a 143-year jail sentence for Selahattin Demirtas, co-leader of the pro-Kurdish HDP, party and 83 years for the other co-leader, Figen Yuksekdag, ... 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:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

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

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

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.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss