FX.co ★ Turkish Industrial Output Falls for First Time in 10 Months

Industrial production in Turkey fell by 2.1% year-on-year in December 2025, overturning a downwardly revised 2.2% increase in November and marking the first annual contraction since February. The decline was driven primarily by manufacturing, where output dropped after nine consecutive months of growth (-27% vs 2.5% in November). By contrast, mining and quarrying activity strengthened further (1.9% vs 0.5%), and electricity, gas, and air-conditioning supply returned to growth (2.4% vs -2.0%). On a monthly basis, industrial output rose by 1.2%, although this represented a slowdown from November’s 2.5% increase, the strongest monthly gain in six months.