Contraction in Turkey's industry in November

Turkey's industrial production decreased by 1.4 percent in November compared to the previous month.

When compared to the year 2022, it increased by 0.2 percent compared to November 2022.

Looking at Turkey's industrial production on an annual basis, an increase of 0.2 percent was observed. Industrial production had also recorded a monthly contraction of 0.3 percent in the previous month. With November, the streak of monthly contractions in industrial production rose to the 5th month. Thus, the longest monthly contraction streak in industrial production since 2018 was observed. A five-month contraction streak was also seen in 2018.

In November 2023, the increases in industrial sub-sectors compared to the same month of the previous year were as follows:

Mining and quarrying sector index: 3.5 percent

Manufacturing sector index: 0.1 percent

Electricity, gas, steam and air conditioning production and distribution sector index: 4.5 percent

Looking at the industrial sub-sectors where the index decreased in November on a monthly basis:

Mining and quarrying sector index: 4.5 percent compared to the previous month

Manufacturing sector index: 1.3 percent

Electricity, gas, steam and air conditioning production and distribution sector index: 1 percent

News Source: 12punto