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Turkey Industrial Production Highest In 15 Months

Turkey's industrial production rose for a second straight month to the highest level in fifteen months in October, data from the Turkish Statistical Institute showed on Friday.

Industrial production rose a calendar adjusted 3.8 percent year-on-year in October, following a 3,6 percent increase in September. Economists had expected a 5.5 percent growth.

The latest growth in production was the biggest since July last year, when output grew 5.3 percent.

Manufacturing output grew 3.7 percent annually in October.

Among other main sectors, mining and quarrying gained 6.5 percent and electricity, gas and steam rose 1.2 percent.

Production of intermediate goods, non-durable consumer goods, capital goods and energy increased in October, while output of durable consumer goods declined.

On a monthly basis, industrial production fell 0.9 percent in October, after a 3.4 percent rise in the prior month.

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