Turkey’s industrial production fell 6.5 percent year-on-year in November 2018, following a 5.7 percent drop in the previous month. It was the third straight month decline in industrial production and the steepest since September 2016, as output contracted more than in a month earlier for both manufacturing (-7.1 percent vs -6.6 percent in October) and electricity, gas, steam & air conditioning supply (-1.8 percent vs -1.2 percent) while, mining & quarrying output decreased (-1.1 percent from 6.3 percent). On a monthly basis, industrial production went down 0.3 percent in November, following a 2.2 percent drop in October. Industrial Production in Turkey averaged 5.30 percent from 1986 until 2018, 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 0.80 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 2.90 in 12 months time. In the long-term, the Turkey Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.