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Turkey's industrial production rises 5.2 percent year-on-year

Turkey's industrial production rises 5.2 percent year-on-year
Turkish industrial production rose by 5.2 percent in August compared to the same month last year, Turkish Statistical Institute (TurkStat) said Monday.

Meanwhile, on a monthly basis, the industrial production fell slightly by 0.1 percent.

On an annual basis, among the three main sub-indices, the electricity, gas, steam and air-conditioning supply index enjoyed the biggest gain, up 7.3 percent in August, according to the data.

The mining and quarrying index rose 5.7 percent while the manufacturing index dropped 4.7 percent, in the same period, TurkStat said.

The data showed that in August on a monthly basis, all the main sub-indices slipped, except the manufacturing index.

The mining and quarrying index fell 1.5 percent, the manufacturing index climbed 0.2 percent, and the electricity, gas, steam and air conditioning supply index lost 1.1 percent this August compared with the previous month, TurkStat said.

Turkey's industrial output is deemed a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth./IBNA

Source: Dailysabah

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