Turkey’s industrial output rises 1.3 percent monthly

ANKARA

Turkey’s industrial production in February rose by 1.3 percent from a month earlier, the Turkish Statistics Insititute announced on April 16.

Among the three main sub-indices, the manufacturing index posted the highest monthly rise in February, with 1.4 percent,  TÜİK said in a statement.

The electricity, gas, steam, and air conditioning supply index went up 0.8 percent, while the mining and quarrying index rose by 0.3 percent during the same period.

Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for the GDP growth.

However, the figure dropped 5.1 percent in February on a yearly basis.

Posting 5.5 percent annual decline, the manufacturing index performed worst among three main sub-indices.

The mining and quarrying index followed it with a 4.7 percent decline.

The electricity, gas, steam and air conditioning supply index rose by 0.4 percent year-on-year in the month.

According to a survey conducted by Anadolu Agency last week, the median estimate for annual industrial production in February was a decrease of 5.6 percent.

A group of 12 economists forecast the seasonally and calendar adjusted index to increase 2 percent on a monthly basis.