Turkey’s industrial production soars 14.5 pct in July

Turkey’s industrial production soars 14.5 pct in July

ANKARA - Anadolu Agency
Turkey’s industrial production soars 14.5 pct in July

Turkey’s industrial production increased by 14.5 percent in July compared to the same month last year, the Turkish Statistical Institute (TÜİK) announced on Sept. 8.

On an annual basis, the manufacturing index saw the biggest rise in July, up by 16 percent, among all three main sub-indices, TÜİK said.        

The electricity, gas, steam and air-conditioning supply index advanced by 11.7 percent while the mining and quarrying index slightly increased by 0.8 percent in the same period.    
    
Meanwhile, on a monthly basis, the country’s industrial production also increased by 2.3 percent in July, TÜİK noted.        

In July, the electricity, gas, steam and air-conditioning supply and the manufacturing indices rose by 4.8 percent and 2.2 percent, respectively. The mining and quarrying index fell by 2.6 percent during the month.
        
Turkey’s industrial output is deemed a vital indicator for the economy as it is seen as a preliminary gauge for GDP growth.