Turkey’s industrial production rises in March
ANKARA - Anadolu Agency
AA photoTurkish industrial output was higher in March compared to the same month last year, according to official data released on May 8.
A report from the Turkish Statistical Institute (TÜİK) revealed that Turkey’s calendar-adjusted industrial production rose by 2.8 percent year-on-year in March 2017.
The term “calendar-adjusted” is used to refer to data that has removed calendar and holiday-originated effects.
Among three sub-indexes compared with the same month last year, the mining and quarrying index suffered by 3.8 percent in March 2017, according to TÜİK.
The electricity, gas, steam and air conditioning supply index and the manufacturing index surged by 7.7 percent and 2.5 percent, respectively, in the same month compared to March last year, according to TÜİK.
The report also showed the production level was also higher - 1.3 percent - in the month compared with the figure from April 2017.
“When the sub-sectors of the seasonally and calendar-adjusted industrial sector [based on 2010=100] were examined; mining and quarrying index increased by 2.1 percent, manufacturing index surged by 1.6 percent, while electricity, gas, steam and air conditioning supply index decreased by 1.1 percent in March 2017, compared with previous month,” TÜİK said.
“When the seasonally and calendar-adjusted main industrial groupings [MIGs] were examined, the largest increase was in durable consumer goods by 6.4 percent in March 2017, compared with previous month,” it added.
The production of intermediate goods was the second best performer among the main industrial groupings, with 2.7 percent, since the previous month.
Turkey’s industrial output is deemed as a vital indicator for the economy as it is seen as a preliminary gauge for the country’s GDP growth, which is estimated to be 4.4 percent in 2017, according to the Medium-Term Program of Turkey’s Development Ministry.