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TURKEY: Industrial Production Surges 5.0% M/M in December

TURKEY
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  • Turkey's seasonally and calendar adjusted industrial production rose 5.0% m/m in December, according to the Turkish Statistical Institute, marking the highest month-on-month reading since March 2023. On an annual basis, calendar adjusted industrial production rose 7.0% y/y versus a revised +1.6% the month prior – its highest since February 2024.
  • Meanwhile, Turkey's adjusted unemployment rate stood at 8.5% in December, down slightly from 8.6% in November. The number of jobless fell 39k m/m while the adjusted labour force participation rate fell to 54.1% from 54.2%.
  • President Recep Tayyip Erdogan arrived in Malaysia on Monday for an official visit as the first stop of his three-nation tour of Asia, state-run Anadolu Ajansi report. During his visit, Erdogan is expected to hold high-level talks with Prime Minister Anwar to boost bilateral ties. He will also visit Indonesia and Pakistan as part of his regional tour.
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  • Turkey's seasonally and calendar adjusted industrial production rose 5.0% m/m in December, according to the Turkish Statistical Institute, marking the highest month-on-month reading since March 2023. On an annual basis, calendar adjusted industrial production rose 7.0% y/y versus a revised +1.6% the month prior – its highest since February 2024.
  • Meanwhile, Turkey's adjusted unemployment rate stood at 8.5% in December, down slightly from 8.6% in November. The number of jobless fell 39k m/m while the adjusted labour force participation rate fell to 54.1% from 54.2%.
  • President Recep Tayyip Erdogan arrived in Malaysia on Monday for an official visit as the first stop of his three-nation tour of Asia, state-run Anadolu Ajansi report. During his visit, Erdogan is expected to hold high-level talks with Prime Minister Anwar to boost bilateral ties. He will also visit Indonesia and Pakistan as part of his regional tour.