Turkey: Industrial output growth wanes in August
Industrial output grew 3.0% year on year in August (July: +7.5% yoy). Looking at the details of the release, manufacturing output lost steam, while mining and quarrying output accelerated in August.
Meanwhile, annual average industrial production growth rose to 0.8% in August (July: +0.7%), signaling an improving trend in the industrial sector.
On a monthly basis, industrial output fell 0.8% in seasonally adjusted terms in August, which was below July’s 0.3% fall.