The seasonally & calendar-adjusted industrial turnover index rose 3.4% m/m in March after posting a revised 3.8% m/m increase in the previous month, the statistics institute TUIK said on May 13.
Turnover in the intermediate goods sector rose 2.6% m/m in March after rising 5.4% m/m in the previous month while turnover in the durable goods manufacturing industry rose 2.8% m/m following a 2.1% m/m rise in February. Turnover in the energy sector was up 7.4% m/m in March that followed a 10.7% m/m in the previous month. In the capital goods manufacturing industry turnover rose by a 3.6% m/m in March versus a 2.1% m/m decline in February.
TUIK also said that the headline calendar-adjusted turnover index rose 6% y/y in March after posting declines in the previous two months.
The Turkish economy grew by 2.6% y/y in Q4/2014, above the 1.9% y/y expansion in the previous quarter. But Turkey’s GDP growth slowed to 2.9% last year from 4.2% in 2013. The government forecasts a 4% economic growth this year but analysts think this is a rather optimistic growth target.
On a calendar-adjusted basis, Turkey’s industrial production rose 4.7% y/y in March (market forecast: 0.9% y/y), after increasing 0.9% y/y in the previous month, data from TUIK showed on May 8. The latest PMI survey showed that the Turkish manufacturing sector remained in a downturn in April. The PMI rose from March’s 71-month low of 48.0 to 48.5, but the latest figure was still the joint-second lowest since April 2009.
|Industrial Turnover Index (y/y, calendar-adjusted)|
|Durable Consumer Goods||5.0||4.5||2.6||3.5||0.6||7.7||7.4||2.3||4.1||-6.7||-1.4||-1.8|
Turkey's President Recep Tayyip Erdogan said on October 13 that he plans to hold talks with both public and private lenders on how to lower interest rates. He did not say, however, when those ... more
Turkish President Recep Tayyip Erdogan has turned his fire on the US ambassador to Turkey for the ... more
The Central Bank of Iran (CBI) and the Turkey-based ECO Trade and Development Bank (ETDB) have signed a memorandum on strengthening bilateral ties, the CBI said on October 10. ETDB is a Eurasian ... more