Total economic turnover surges in January

Total economic turnover surges in January

ANKARA - Anadolu Agency
Total economic turnover surges in January

The total turnover of Turkey's economy jumped 20.5 percent year-on-year in January, the Turkish Statistical Institute (TÜİK) announced on March 13.

Significant annual rises in the turnover indices in the industry, trade, and service sectors offset a fall in the construction sector, according to TÜİK data.

The total turnover index in trade enjoyed the highest rise, up 27 percent during the same period.

TÜİK said the turnover indices in services and industry climbed 20.8 percent and 20.1 percent, respectively.

The index value in construction fell 17.9 percent in January from the same month last year.

The data also showed that Turkey's seasonally and calendar adjusted total turnover index – monthly change – improved 0.8 percent.

Turnover is an important short-term indicator used to assess the country's economic situation, according to TÜİK.

Turnover indices are calculated to follow the change in the concept, made up of the sales of goods and services invoiced by the enterprise in the reference month over time, to monitor developments on a quarterly and yearly basis.