First-year contraction in industry since pandemic process

The Turkish Statistical Institute (TUIK) published the industrial production data for November.

Industrial production contracted by 1.3 percent in November compared to the same period of the previous year. Thus, there was an annual contraction in industrial production for the first time since June 2020.

According to TURKSTAT information, the monthly contraction in the industry was 1.1 percent in November.

The expectations of economists participating in the Bloomberg survey were on the side of a contraction of 1 percent on an annual basis and 0.9 percent on a monthly basis.

Manufacturing Purchasing Managers Index (PMI) data in November gave negative signals.

Istanbul Chamber of Industry Turkey Manufacturing PMI decreased to 45.7 in November and the threshold value exceeded 50 for the ninth month in a row. under was left. The deterioration in operating conditions was the most obvious since the first wave of Covid-19 in early 2020.

-Data will be updated instantly