Industrial Production In Turkey Was Above Expectations In March!

According to the data announced by TURKSTAT, industrial production increased by 16.6 percent annually in March and was realized above the estimates.

Industrial production in Turkey was above expexctations in March. The Turkish Statistical Institute (TURKSTAT) shared the industrial production data for the month of March. Accordingly, industrial production increased by 16.6 percent annually in March and was realized above the estimates of 14.1. On a monthly basis, it increased by 0.7 percent in response to the expectation of a 0.5 percent contraction. In March 2021, the mining and quarrying sector index rose by 14.8 percent, the manufacturing industry sector index by 17.2 percent and the electricity, gas, steam and air conditioning production and distribution sector index increased by 11.9 percent compared to the same month of the previous year. While the mining and quarrying sector index decreased by 1.7 percent compared to the previous month, the index of the manufacturing industry sector increased by 0.3 percent and the index of the electricity, gas, steam and air conditioning sector increased by 7.3 percent. Calendar adjusted industrial production increased by 12.3 percent in the first quarter of this year compared to the same period of 2020. Seasonal and calendar adjusted industrial production increased by 2.6 percent compared to the previous quarter.   Source: Bloomberg HT