Turkey’s industrial output up 1.7 percent in August
Turkey’s industrial production increased by 1.7 percent in August compared with the same month last year, the Turkish Statistical Institute (TÜİK) said on Oct. 16.
“When the subsectors of the industry [based on 2015=100] were examined, mining and quarrying index increased by 6.1 percent, manufacturing index increased by 1.2 percent, and electricity, gas, steam and air conditioning supply index increased by 2.9 percent in August 2018,” TÜİK said.
However, on a monthly basis the figure also dropped 1.1 percent in August.
Compared with figures in July, mining and quarrying index increased by 5 percent, manufacturing index decreased by 1.5 percent, and electricity, gas, steam and air conditioning supply index decreased by 0.8 percent in August, according to TÜİK’s statement.
Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth.