Turkey's total economic turnover surges in February

ANKARA - Anadolu Agency

The total turnover of Turkey's economy jumped 22.2 percent year-on-year in February, the Turkish Statistical Institute (TÜİK) announced on April 13.

The total turnover index for the industry rose 17.1 percent, construction 8.3 percent, trade 28.2 percent and services 19.8 percent on annual basis in February 2020, according to TÜİK data.

Meanwhile, the total turnover rose 1.6 percent on monthly basis.

The total turnover index in construction enjoyed the highest rise, up 9.2 percent, in February.

TÜİK said the turnover indices in the services and industry increased 1.2 percent and 0.1 percent, respectively.

The index value in trade saw a 1.8 percent rise on monthly basis in February.

The data also showed that Turkey's seasonally and calendar adjusted total turnover index -- monthly change -- improved 2.9 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.