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Turkish industrial production falls sharply in September

Turkish industrial production fell on a year-on-year basis in September. Output fell 2.7 percent, as compared with prior month’s print of a growth of 1.7 percent and consensus expectations of 1.3 percent.

Looking at subsectors, mining and quarrying index recorded growth of 5 percent in the month, whereas manufacturing index fell 3.2 percent and electricity, gas, steam and air conditioning supply index dropped 1.3 percent on a year-on-year basis.

On a sequential basis, industrial output fell 2.7 percent. Within subsectors, mining and quarrying saw a fall of 1.3 percent. Manufacturing index dropped 2.8 percent and electricity, gas, steam and air conditioning supply index fell 2.5 percent.

Industrial production rose 1.5 percent in the third quarter, as compared with 1.5 percent print recorded in the third quarter of 2017. On a seasonally and calendar adjusted basis, industrial production fell 0.2 percent compared to the second quarter.

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