Turkey | Downside surprise in Industrial Production (IP)
Published on Thursday, February 14, 2019 | Updated on Thursday, February 14, 2019
Turkey | Downside surprise in Industrial Production (IP)
Summary
Industrial Production (IP) surprised on the downside by falling 9.8% yoy in calendar adjusted terms in December (-8.4% BBVA Research vs. -7.5% Consensus). Thus, IP contracted by 7.5% in 4Q18 after its 1.6% growth in 3Q18. We maintain our view that the recovery in economic activity could start as of 2Q19 and bring the whole year GDP growth rate to 1% in 2019.
Geographies
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- Türkiye
Topics
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- Macroeconomic Analysis
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Authors
Ali Batuhan Barlas
BBVA Research - Principal Economist
Adem Ileri
BBVA Research - Principal Economist
Serkan Kocabas
Seda Guler Mert
BBVA Research - Chief Economist
Alvaro Ortiz
BBVA Research - Head of Analysis with Big Data