Turkey’s industrial production fell unexpectedly in August

ISTANBUL

Industrial growth on a workday-adjusted basis fell 0.1 percent from a year ago, the first decline since December, the data shows. DHA photo

Turkey’s industrial output unexpectedly fell in August, the first annual decline this year, the Turkish Statistical Institute (TÜİK) revealed today. 

Industrial growth on a workday-adjusted basis fell 0.1 percent from a year ago, the first decline since December, the data shows. 

In August, the output dropped a calendar and seasonally-adjusted 4 percent, compared to the previous month. This is the sharpest fall since January 2009 and another sign the government’s growth target of 4 percent looks optimistic this year.

The Turkish government will announce its economic outlook for the medium-term today.