Turkish industrial production growth slows in November
Growth in Turkey’s industrial production slowed in November, with manufacturing output flat compared with the previous month.
Industrial production rose a calendar-adjusted 7 percent annually in November versus 7.3 percent in October, according to data published by the state statistics office on Monday. Production of non-durable goods rose 7.5 percent while that of durable goods shrunk 2.6 percent.
Output increased 0.3 percent month-on-month on a seasonal and calendar-adjusted basis. Manufacturing output remained flat. Production in mining and quarrying led the overall increase, climbing 3.2 percent.
Turkey’s government is seeking to maintain momentum in economic growth with investment incentives and a state-sponsored credit guarantee fund ahead of parliamentary and presidential elections, due by 2019.