Turkey: Industrial output deteriorates in June
Industrial output dropped 2.1% month on month in seasonally adjusted terms in June (May: +1.8% mom). June’s figure was largely due to a contraction in manufacturing output. In contrast, mining and quarrying production rebounded.
On an annual basis, industrial output fell 4.7% in June (May: +0.2% yoy), the worst result since February 2023. Moreover, the trend pointed down, with the annual average growth of industrial production coming in at 2.8%, down from May’s 3.3% reading.