Turkey industrial production fell 1.2 percent from a year earlier in July 2019, following a revised 3.7 percent drop in the previous month. That was the 11th straight month of contraction in the industry sector, led by declines in durable consumer goods production (-7 percent vs 14.4 percent) and intermediate goods output (-5.3 percent vs -7.9 percent). In contrast, non-durable consumer goods production rose by the most (3.3 percent vs -1.6 percent), followed by energy (2.3 percent vs 3.9 percent) and capital goods (2 percent vs -5.7 percent). On a seasonally adjusted monthly basis, industrial output jumped 4.3 percent in July, reversing a 3.5 percent slump in June. Industrial Production in Turkey averaged 5.10 percent from 1986 until 2019, reaching an all time high of 27.30 percent in October of 2005 and a record low of -21.20 percent in February of 2009.
Industrial Production in Turkey is expected to be 1.50 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 2.80 in 12 months time. In the long-term, the Turkey Industrial Production is projected to trend around 3.40 percent in 2020, according to our econometric models.