Contraction in industrial production continues: Data
ANKARA
The year-on-year decline in industrial production widened from 2.3 percent in September to 3.1 in October, data from the Turkish Statistical Institute (TÜİK) showed on Dec. 10.
The contraction in industrial output continued for a fifth straight month.
On a monthly basis, industrial production shrank 0.9 percent in October, after rising 1.6 percent month-on-month.
In manufacturing, output, which fell 2.4 percent annually in September, declined by another 3.3 percent in October from a year ago with monthly production dropping 1 percent.
The mining and quarrying production index saw the sharpest annual decline, falling 14.2 percent.
In contrast, the electricity, gas, steam, and air conditioning supply index rose by 7.6 percent.
Output of intermediate goods-producing companies was down 2.7 percent year-on-year and 1.7 percent month-on-month.
Durable consumer goods production fell 0.6 percent in October from a year ago but inched up 0.3 percent compared with September, according to TÜİK data.
The energy sector’s output rose by 0.1 percent annually, while the month-on-month increase was 4.1 percent.
In the capital goods manufacturing sector, production plunged 9.3 percent compared with October 2023 and the output decline from September was 3.5 percent.
