Turkish Manufacturing Output Falls 1.4% Year-on-Year in June

Turkey's Statistical Institute (TÜİK) released manufacturing production index data for June. According to the figures, the index rose 0.1% compared to the previous month while declining 1.4% year-on-year compared to the same period last year, according to Anadolu Agency.

June marked the second consecutive month of annual manufacturing output decline; May had also recorded a 1.2% year-on-year contraction. Although the monthly recovery offered a positive sign, the annual negative trend, combined with contracting domestic demand and slowdowns in export markets, points to continued pressure on the producer sector.

In the same period, TÜİK's construction cost index rose 28.66% year-on-year in June while climbing 0.45% month-on-month; the materials index increased 1.68% monthly while labor costs fell 1.66%. Read together, the two data sets paint a picture of high cost pressures alongside limited production volumes.