Turkey’s industrial output goes up in April

Turkey’s industrial output goes up in April

ANKARA – Anadolu Agency
Turkey’s industrial output goes up in April

Turkey’s calendar-adjusted industrial production rose by 6.2 percent year-on-year in April, the Turkish Statistical Institute (TÜİK) announced on June 13.

Industrial output is considered a vital indicator for the economy as it is seen as a preliminary gauge for gross domestic product (GDP).

Among three main sub-indices, the mining and quarrying index saw the highest annual increase in the month, up 10.1 percent from the same month last year.

The manufacturing index went up 6.3 percent while the electricity, gas, steam and air conditioning supply index rose 3.8 percent during the same period.

The term “calendar-adjusted” is used to refer to data without calendar and holiday-originated effects.

The TÜİK data showed that industrial output also rose on a monthly basis in April, indicating a rise of 0.9 percent.

Turkey, economy, industrial output