Turkish October industrial output growth seen at 5% y/y

By bne IntelliNews December 5, 2014

Turkey’s industrial production (unadjusted) is expected to rise 5% y/y in October, a Reuters poll of economists showed on December 4.

On a calendar-adjusted basis, the output increase is seen at 3.7% y/y while calendar & seasonally adjusted industrial production is expected to fall 1.05% m/m in October.

Unadjusted industrial production showed a 4.1% y/y increase in September, according to the latest data provided by the statistics office, TUIK. On a calendar-adjusted basis, industrial production rose 2.2% y/y in September, after rising 5.2% y/y in the previous month while calendar & seasonally adjusted industrial production rose 1.7% m/m versus a 1.1% m/m decline in August.

Signalling a further pick up in manufacturing activity, the headline HSBC Turkey Manufacturing PMI rose for the fourth successive month to 52.2 in November, the highest since February. Manufacturing new orders rose for the third month running, growth of new export orders was signalled for the first time in three months, the survey by Markit also showed.

TUIK will release industrial production data for October on December 8.

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