Turkey’s industrial production continues to decrease in September 2018

Despite the effort spent by the administration and several measures taken to boost the economy, Turkey’s industrial production continued to decrease in September, as well.

Turkey Statistical Institute (TUIK) has announced the Industrial Production Index data for September. Based on said data, Turkey’s industrial production decreased by 2.7 percent in September compared to the same period of the previous year.

When the sub-sectors of the industry are examined, in September 2018, the index of mining and quarrying sector increased by 5 percent compared to the same month of the previous year. The index for manufacturing industry sector was down by 3.2 percent and electricity, gas, steam and air conditioning production and distribution sector indexes decreased by 1.3 percent as well.

It is a fact that the country has had to face many blows in the areas of both politics and economy recently and spent substantial efforts to overcome major problems thus created. To recap, the foreign exchange issue TL had to cope with is now under control. However, it seems the government will have to work much harder (and in a rational manner) to overcome issues such as production and inflation which are the main sources of trouble for Turkey’s economy, really.