Industrial output soared 2.4 percent in July

Industrial output soared 2.4 percent in July

Industrial output soared 2.4 percent in July

Türkiye’s industrial production increased by 2.4 percent in July from a year ago, according to data from the Turkish Statistical Institute (TÜİK) on Sept. 13.

However, the country’s industrial output fell 6.2 percent on a monthly basis.

In the manufacturing sector, production increased by 4.1 percent year-on-year, but dropped 6.6 percent from June.

The mining and quarrying industry’s output was down 6.8 percent on an annual basis, while production in the electricity, gas and steam sector fell by 10.5 percent.

The durable consumer goods sector’s production declined by 1.4 percent in July from a year ago, but non-durable goods output grew 5.9 percent year-on-year.

Intermediate goods production contracted 0.6 percent, while the capital goods manufacturing sector’s output increased by nearly 11 percent.

TÜİK also reported that retail sales exhibited an annual increase of 2 percent in July. They, however, fell 0.3 percent from a month ago.

Food, beverages and tobacco sales rose by 5.8 percent year-on-year and 1 percent month-on-month. Non-food retail sales also recorded an annual increase of 5 percent. Automotive fuel sales plunged 10.8 percent.

Separate data from the statistics office showed that the combined turnover of the industry, construction, trade and services sectors rose by 122.4 percent in July from the same month of 2021.

Turnover in the industry and construction sectors increased by 122 percent and 89.4 percent, respectively. The annual increases in the trade and services sectors were 119.7 percent and 142 percent, respectively.

On a monthly basis, the combined turnover of those four sectors fell by 1.5 percent.