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Turkey Industrial Production Fall For Third Straight Month

Turkey's industrial production fell for a third straight month and at a faster than expected pace, data from the Turkish Statistical Institute showed on Monday.

Industrial Production declined a calendar adjusted 6.5 percent year-on-year in November after a 5.7 percent fall in October. Economists had expected a 5.1 percent decline.

Manufacturing output led the slump, by falling 7.1 percent. Utilities logged a 1.8 percent decline, and was followed by a 1.1 percent fall in mining and quarrying.

Production of durable consumer goods increased by 10.0 percent in November, while manufacture of intermediate goods fell 11.9 percent.

Month-on-month, industrial production fell 0.3 percent in November following a 1.9 percent drop in the previous month. Economists had expected production to rise 0.2 percent.

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