Rapid Increase in Industrial Production Continues

Minister of Science, Industry and Technology Faruk Özlü stated that industrial production, which continues to grow under the leadership of the manufacturing sector, is performing beyond expectations, saying "Indicators released for October and November point to continued strong industrial growth in the final quarter." In his written statement, Minister Özlü evaluated the industrial production index for October 2017. Recalling that the calendar-adjusted industrial production index in October rose 7.3% compared to the same month of the previous year, Özlü noted that the unadjusted index increased 8.9% on an annual basis, while industrial production adjusted for seasonal and calendar effects increased 0.7% compared to the previous month. Pointing out that following the high industrial production in the third quarter, industrial production did not lose momentum in the fourth quarter and continued its rapid rise, Özlü stated: "Industrial production, which continues to grow under the leadership of the manufacturing sector, is displaying performance beyond expectations. The increase in the manufacturing sector has been 7.7%. Indicators released for October and November point to continued strong industrial growth in the final quarter. Strong growth in industry is the most important indicator for the entire economy."