Industry picks up pace amid tightening
In a tightening cycle, the monthly rise in industrial production attracted attention. According to the Turkish Statistical Institute (TurkStat) data, industrial production increased by 1.7 percent in May compared to the previous month. On an annual basis, a limited decline of 0.1 percent was recorded.
Industrial production grew on a monthly basis again after two months.
According to the Turkish Statistical Institute (TurkStat), industrial production increased by 1.7 percent in May compared to the previous month.
According to the data, there was an annual decrease of 0.1 percent.
Economists participating in the Bloomberg survey expected the increase to be 3.8 percent. The annual expectation was determined as 2.6 percent increase.
Analyzing the sub-sectors of industry, mining and quarrying index decreased by 3.9 percent in May compared to the previous month, manufacturing industry index increased by 2.1 percent and electricity, gas, steam and air conditioning production and distribution index increased by 1 percent.
On an annual basis, the index for the mining and quarrying sector increased by 2.2 percent, the index for the manufacturing industry sector decreased by 0.4 percent and the index for the electricity, gas, steam and air conditioning production and distribution sector increased by 0.9 percent.
The decline in high-tech production also drew attention in the data. Accordingly, high-tech industrial production decreased by 5.2 percent and 18 percent on a monthly basis in May.
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