Industrial output rises 8.6 pct in December

Industrial output rises 8.6 pct in December

Industrial output rises 8.6 pct in December

Turkey’s industrial production increased by 3.6 percent year-on-year in December 2019, data from the Turkish Statistics Institute (TÜİK) showed on Feb. 13.

In the month, all the three main sub-indices -- mining and quarrying, manufacturing, and the electricity, gas, steam and air conditioning -- rose by 9.8 percent, 9.1 percent and 0.3 percent, respectively.

Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth.

However, the figure up by 1.9 percent in December, compared with the previous month.

Turkey's industrial production also saw an increase of 5.8 percent year-on-year in the last quarter of 2019.

Mustafa Varank, the Turkish industry and technology minister, said on Twitter that the industrial production index hit the 21-month-high in December.

He said the country focused on making permanent this performance and production-based growth.

"We are working for a year in which growth is accelerating, the real sector is strengthening, and employment is on the rise," the minister said.

"On an annual basis, all components of the index remained positive. The strong trend in the fields of capital goods, intermediate goods and high technology is an indication that we are on the right track for the future," he added.