The FINANCIAL — Turkey’s industrial production exceeded expectations in April, according to data from the Turkish Statistics Institute released on June 8, according to Nasdaq.
Industrial production rose 3.8% year-on-year in April, on a calendar-adjusted basis, compared with a 4.7% annual rise in March, the state statistics agency said.
Turkey’s unadjusted industrial production, not stripping out calendar effects, increased 3.7% year-over-year in April. According to economists polled by The Wall Street Journal, Turkey’s unadjusted industrial output was expected to rise 2.6% annually in April.
Industrial production didn’t change from the previous month in April, on both a calendar and seasonally adjusted basis.
In terms of sectors, mining output fell 5% year-over-year, while manufacturing output rose 4.6% and electricity output and distribution both increased 2.1%, the statistics agency said.
At 0710 GMT, the Turkish lira was trading at 2.77 against the dollar, compared with a record low of 2.8096 per greenback early Monday after the country’s ruling party lost its majority in national elections on Sunday after 13 years in power.
Discussion about this post