According to data provided by the Turkish Statistical Institute (TurkStat), seasonally and calendar adjusted industrial production in May 2016 increased by 1.6 percent compared to previous month. The leading indicator for growth rate showed a 5.6 percent year-on-year increase. Expectations for monthly and year-on-year increases were 1.0 percent and 3.6 percent respectively. The data revealed that manufacturing index increased by 1.9 percent, electricity, gas, steam and air conditioning supply index by 0.3 percent and mining and quarrying index by 0.1 percent in the same period.
With regard to the balance of payments statistics, the Central Bank of the Republic of Turkey announced that current account deficit in May 2016 decreased by USD 1.406 billion to USD 2.863 billion compared to May 2015. Moreover, current account deficit decreased to USD 27.249 billion on yearly base. Reuters expectation survey anticipated a current account deficit of USD 3 billion for May 2016.