breaking news Turkey's Industrial Output Up In November last minute news

MetiNews.Com - Beating market expectations with 11% year on year rise, figure indicates strong 3rd quarter growth.

breaking news Turkey's Industrial Output Up In November last minute news

MetiNews.Com - Beating market expectations with 11% year on year rise, figure indicates strong 3rd quarter growth.

breaking news Turkey's Industrial Output Up In November last minute news
13 January 2021 - 08:15

Breaking News ! Turkey's calendar-adjusted industrial production surged 11% year-on-year last November, the country's statistical authority said on Wednesday.The figure, which beat market expectations, indicates strong growth for the third quarter of 2020.In a survey by Anadolu Agency on Friday, a group of economists projected the calendar-adjusted industrial production index would rise 8.3% year-on-year.The manufacturing index posted the best performance among industrial sub-sectors in November 2020, shooting up 11.6% from the same month in the previous year, the Turkish Statistical Institute (TurkStat) said in a statement.The electricity, gas, steam, and air conditioning supply index rose 7.5%, while the mining and quarrying index went up slightly, 4.6%, during the same period.The term "calendar-adjusted" is used to refer to data without calendar and holiday-originating effects.Turkey's industrial output is deemed a vital indicator for the economy as it is seen as a preliminary gauge for gross domestic product (GDP) growth.

.3% in November, TurkStat said.The manufacturing index posted the largest rise with 1.5%, followed by the mining and quarrying as well as electricity, gas, steam and air conditioning supply indices, 0.3% and 0.1%, respectively.Enver Erkan, an economist at Istanbul-based private investment firm Tera Yatirim, said the rapid recovery that started in the third quarter following a lockdown period was reflected in the October and November figures."Keeping production channels open will make the [manufacturing] sector appear more positive at a time when the effects of virus-related restrictions are seen," he added.Government steps such as keeping credit channels loose along with the sound industrial production figures will help the country see a positive growth rate for 2020, he stressed."The slowdown in global economies due to the quarantine measures, monetary tightening, and the rise in interest rates may cause a stagnation effect as of the first quarter of 2021," he also cautioned. -

Source = MetiNews.Com

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breaking news Turkey's Industrial Output Up In November last minute news


breaking news Turkey's Industrial Output Up In November last minute news


breaking news Turkey's Industrial Output Up In November last minute news


breaking news Turkey's Industrial Output Up In November last minute news

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