Turkey's industrial production shrank 3.9 percent year-on-year in June of 2019, following a 1.3 percent slump in the previous month and above an expected 1.01 percent fall. It was the tenth straight monthly decline in industrial activity and the steepest since February. Output dropped further for intermediate goods (-8.1 percent from -6.6 percent in May) and production decreased for non-durable goods (-2.0 percent from 1.0 percent) and capital goods (-5.8 percent from 3.0 percent). Meantime, output slowed for energy (3.9 percent from 7.7 percent) while it rebounded for durable consumer goods (14.9 percent from -1.5 percent). On a seasonally adjusted monthly basis, industrial production slumped 3.7 percent, after a downwardly revised 1.2 percent gain in May. Industrial Production in Turkey averaged 5.12 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.