Turkey's industrial production fell 19.9 percent from a year earlier in May of 2020, after a downwardly revised 31.3 percent tumble in April and compared with market expectations of a 22.5 percent slump, amid the gradual lifting of lockdown restrictions from May. Output decreased less in all categories: durable consumer goods (-33.4 percent vs -48.5 percent in April); non-durable consumer goods (-20.4 percent vs -31.3 percent); intermediate goods (-17.6 percent vs -27.7 percent) and capital goods (-24.2 percent vs -43 percent) and energy (-14.4 percent vs -15.6 percent). On a seasonally adjusted monthly basis, industrial production rose 17.4 percent, recovering significantly from a downwardly revised 30.2 percent plunge in the previous month.
Industrial Production in Turkey averaged 4.93 percent from 1986 until 2020, reaching an all time high of 27.30 percent in October of 2005 and a record low of -31.30 percent in April of 2020. This page provides the latest reported value for - Turkey Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Turkish Statistical Institute
Industrial Production in Turkey is expected to be -3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Turkey to stand at 4.00 in 12 months time. In the long-term, the Turkey Industrial Production is projected to trend around 5.40 percent in 2021 and 3.60 percent in 2022, according to our econometric models.