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March Industrial Production Weakens on Month

TURKEY
MNI (London)

TURKEY MARCH IP FALLS -1.8% M/M; FEB +4.4%

TURKEY MARCH IP RISES +9.6% Y/Y; FEB +13.3%

  • The March IP print saw another month of substantial growth compared to March 2021, growing +9.6% y/y, however, production saw a notable slowdown of -1.8% compared to the previous month.
  • The month-on-month slowdown was attributable to a decrease in mining and quarrying (-4.9% m/m) followed by manufacturing (-2.2% m/m). The electricity, gas, air conditioning index provided the bulk of March growth, expanding +4.8% m/m.

Source: TURKSTAT

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