Industrial production in Turkey declined 5.7 percent in October
In October, the mining and quarrying index rose by 6.1 percent on a yearly basis, while the manufacturing and the electricity, gas, steam and air conditioning supply indices were down 6.5 percent and 1.2 percent, respectively.
In the mining and quarrying sector, mining of metal ores index recorded the biggest rise with an 18.3-percent increase, while the other mining and quarrying sector index saw a decline with 2.2 percent.
On the manufacturing side, the other transport equipment saw an annual hike of 20.2 percent while the index of the manufacturing of wood and of products dropped by 20.4 percent, it was also the highest annual decrease among all sub-sectors.
The annual declines were 4.8 percent in intermediate goods, 6.7 percent in capital goods, 3 percent in non-durable goods, and 0.1 percent in energy.
According to TÜİK, the purpose of calculating monthly industrial production index is to measure the evolution of the economy and the positive and negative effects of economical political decisions in the short term.
Turkey’s economy grew by 1.6 percent year-on-year in the third quarter versus the revised expansion rates of 7.2 percent in the first and 5.3 percent in the second quarter of 2018.