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Turkey Industrial Output Rises

Turkey Industrial Output RisesTurkey Industrial Output Rises

Turkey’s industrial production advanced 3.4% in June 2017 compared to the same month last year, the Turkish Statistical Institute announced on Tuesday, World Bulletin reported. Turkey’s industrial output is deemed a vital indicator for the economy as it is seen as a preliminary gauge for GDP growth. On an annual basis, the manufacturing index saw the biggest rise in June, up 3.8%, among all three main sub-indices, TurkStat said. In the same period, the electricity, gas, steam and air-conditioning supply index also increased by 2.5% while the mining and quarrying index decreased by 0.5%. Meanwhile, the country’s industrial production declined by 0.4% in June on a monthly basis, TurkStat noted. In June, the mining and quarrying index rose by 1.2% while the electricity, gas, steam and air-conditioning supply and the manufacturing indices fell by 0.6% and 0.5%, respectively.  According to a survey conducted by Anadolu Agency on Friday, the median estimate for annual industrial production in 2017 stands at 3.1%.

 

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