Industrial production recovers in March, rising 2.5 percent
ISTANBUL
Industrial production increased by 2.5 percent in March from a year, after contracting 1.9 percent annually in the previous month, according to data from the Turkish Statistical Institute (TÜİK) on May 9.
The country’s industrial output, which shrank 1.6 percent in February compared to January, also rose by 3.4 percent month-on-month in March.
In manufacturing, production increased by 2 percent year-on-year and 3.7 percent month-on-month, showed TÜİK data.
The headline PMI was unchanged at 47.3 in April, signaling a further solid moderation of the health of the Turkish manufacturing sector, an S&P Global survey showed earlier this month.
The sector continued to face challenges in April, although there were some signs of improvement as rates of moderation in output, new orders and exports all eased, the survey said.
Production in the mining and quarrying sector exhibited 4.9 percent annual and 8.2 percent monthly increases in March, according to TÜİK data.
Intermediate goods production declined by 1.7 percent compared to March last year but rose 1 percent on a monthly basis.
The performance of the durable consumer goods sector was poor as its output fell 5.7 percent annually and 2.8 percent monthly, however, production of non-durable consumer goods companies increased by 3.3 percent year-on-year and 2.1 percent month-on-month.
The capital goods production index surged 8.2 percent in March from a year ago and advanced 12.7 percent compared to February.
High-technology production saw a strong monthly surge of 43.4 percent, while the monthly increase was 4.3 percent.
