Turkey’s industrial output rises in November
Based on the data published by the State Institute of Statistics (DİE), Turkey's industrial output rose by 9.6% from a year earlier in November as the working days were more than that of last year's. This figure was below the market expectation of 10.6%. The data of industrial output shows that the many sectors recorded an increase. Electrical machinery and equipment output rose by 82.3% year-on-year, automotive sector output by 33.3% year-on-year, and printing output by 33% year-on-year and brown goods output by 29% year-on-year. On the other hand, major indicators still indicate a slowdown in domestic demand. The decrease in the pace of the increase in passenger car sales, the slight increase in base money and loan growth mark that a major slowdown in output is underway.