Turkish industrial production deteriorates in August

Turkish industrial production dropped further in the month of August. On a year-on-year basis, industrial production fell 3.6 percent, as compared with the drop of 1.1 percent seen in the prior month.

Looking at the subsectors, mining and quarrying recorded a drop of 6 percent year-on-year. Manufacturing index dropped 3.3 percent, whereas electricity, gas, steam and air conditioning supply index dropped 0.4 percent in August.

Meanwhile, intermediate goods and durable consumer goods recorded a fall of 6.5 percent and 9 percent, respectively. Non-durable consumer goods and energy saw a rise of 0.9 percent and 3.6 percent, respectively. Capital goods sector saw a fall of 5 percent.

Sequentially, industrial production dropped 2.8 percent in August. Mining and quarrying sectors saw the index drop 9.2 percent, whereas manufacturing index fell 2.7 percent. Electricity, gas, steam and air conditioning supply index rose 0.9 percent in August.

On a sequential basis, intermediate goods, durable consumer goods and non-durable consumer goods saw a fall of 2.9 percent, 1.9 percent and 2.5 percent, respectively. Energy saw a rise of 1.2 percent. Meanwhile, capital goods index fell 5.2 percent.