Industrial production declined in November 2022

SHAFAQNA TURKEY – The Turkish Statistical Institute (TUIK) has announced the results of the industrial production index for November 2022.

Industrial production fell 1.3% year-on-year in November. In October, production increased by 3.2 percent year on year. Thus, industrial production fell year on year for the first time in 29 months.

Looking at the industry sub-sectors, it can be seen that the index decreased by 8.6 percent in the mining and quarrying sector, by 7.9 percent in the electricity, gas, steam and air conditioning generation and distribution sector, and by 0.4 percent. in the manufacturing industry in November compared to the same month of the previous year.

Monthly Industrial Production Data

Taking into account seasonal and calendar factors, industrial production in November decreased by 1.1% compared to October.

In that month, the mining and quarrying sector index decreased by 1.3 percent, the manufacturing sector index by 1 percent, and the electricity, gas, steam and air conditioning production and distribution sector index decreased by 2.3 percent compared to the previous month. .

Economists participating in the AA Finans Industrial Production Expectations Survey had expected the calendar-adjusted industrial production index to fall 0.5 percent in November from the same period a year earlier. The unadjusted industrial production index is also forecast to decline by 1.6% year on year. PEACE