Industrial production hits bottom

NEWS CENTER

Industrial production in Turkey fell by 2.2 percent month-over-month in September, the sharpest decline in five months. According to data from the Turkish Statistical Institute ( TurkStat ), industrial production increased by 2.9 percent year-over-year.

According to data released by TurkStat, the largest decline among industrial subsectors occurred in the manufacturing sector. The manufacturing index fell 2.3 percent in September compared to the previous month. During the same period, the electricity, gas, steam, and air conditioning production and distribution sector decreased by 2.4 percent. The mining and quarrying sector, however, stood out, recording a 1.2 percent monthly increase.

SIGNAL OF SLOWING DOWN IN THE ECONOMY

Compared to the same month last year, a limited increase in industrial production was observed. Mining and quarrying rose by 3.1 percent year-over-year, manufacturing by 2.7 percent, and electricity, gas, steam, and air conditioning production by 5.3 percent.

This sharp monthly decline indicates a slowdown in industrial production, a leading indicator of economic growth. Experts say that weakening domestic demand, high interest rates, and stagnant global trade are weighing on the manufacturing sector.

September data show that the Turkish economy entered the last quarter of the year with weak production momentum.