Moderate monthly increase in industrial production
Industrial production index increased by 0.4 percent in July compared to the previous month. Thus, the index recorded a monthly increase again, albeit moderate, after the monthly decline in June. The sharp decline in high-tech industrial production was also noteworthy.
Industrial production declined on an annual basis in July as in June, while a moderate increase was observed on a monthly basis in July.
According to Turkish Statistical Institute (TurkStat) data, industrial production declined by 3.9 percent on an annual basis in July. The contraction, which was previously announced as 4.7 percent in June, was revised up to 5 percent.
On a monthly basis, industrial production increased by 0.4 percent. The monthly decline, which was previously announced as 2.1 percent, was revised to 2.4 percent.
Analyzing the sub-sectors of industry, mining and quarrying sector index increased by 3.3 percent in July compared to the same month of the previous year, manufacturing industry sector index decreased by 5.1 percent and electricity, gas, steam and air conditioning production and distribution sector index increased by 8.2 percent.
In July, mining and quarrying sector index increased by 2.1 percent, manufacturing industry index increased by 0.5 percent and electricity, gas, steam and air conditioning production and distribution sector index decreased by 1.9 percent compared to the previous month.
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