Pace of growth in industrial output slows

ANKARA

Industrial production rose by 1.1 percent in October from a year, slowing from the 4.1 percent year-on-year increase in September, the Turkish Statistical Institute (TÜİK) said on Dec. 11.

The country’s industrial output fell 0.4 percent monthly, after declining 0.1 percent in September.

In the manufacturing sector, production rose 1.3 percent from a year ago but contracted 0.3 percent compared with the previous month.

The latest PMI survey did not offer a promising outlook for manufacturing. The headline PMI dropped to 47.2 in November from 48.4 in October, below the 50 no-change mark for the fifth consecutive month and pointing to a solid moderation in business conditions, according to the survey.

Durable consumer goods manufacturers increased their production by nearly 6 percent in October compared with the same month of last year, while non-durable consumer goods output plunged 4.6 percent on an annual basis.

Energy production was up 3 percent, and the capital goods manufacturing sector’s output increased by 8.8 percent, TÜİK data showed.