ANKARA (dpa-AFX) - Turkey's industrial production fell for a fourth straight month in December and the decline was the most severe thus far in the trend, data from the Turkish Statistical Institute showed on Thursday.
Industrial production declined a calendar adjusted 9.8 percent year-on-year in December after a 6.6 percent fall in November. Economists had expected a fall of 7.5 percent.
Manufacturing led the slump, by falling 10.8 percent. Mining and quarrying logged a 2.1 percent decline in December.
Month-on-month, industrial production fell a seasonally and calendar adjusted 1.4 percent in December following a 0.3 percent drop in the previous month. Output decreased for a fifth month in a row.
For the three months ended in December, calendar adjusted industrial production decreased by 7.5 percent annually.
The seasonally and calendar adjusted industrial production decreased by 5.2 percent from the previous quarter.
In 2018, industrial production grew an average 1.8 percent, which was slower than the 8.9 percent gain in the previous year.
Copyright RTT News/dpa-AFX