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May Sees Increase in Industrial Production Index

Turkish Industrial Production Sees Mixed Results in May

The Turkish Statistical Institute (TurkStat) has released the industrial production index data for the month of May, revealing a mixed picture for the country’s industrial sector.

According to the data, calendar-adjusted industrial production saw a slight decline of 0.1 percent in May compared to the same month last year. When looking at the sub-sectors of the industry, there was a 2.2 percent increase in the mining and quarrying sector index, a 0.9 percent increase in the electricity, gas, steam, and air conditioning production and distribution sector index, and a 0.4 percent decrease in the manufacturing industry sector index.

On an annual basis, the unadjusted industrial production index showed a 2.4 percent increase in May.

In terms of monthly data, seasonally and calendar adjusted industrial production rose by 1.7 percent in May compared to the previous month. When examining the sub-sectors in the same month, there was a 3.9 percent decrease in the mining and quarrying sector index, a 2.1 percent increase in the manufacturing industry sector index, and a 1 percent increase in the electricity, gas, steam, and air conditioning production and distribution sector index.

These numbers indicate a complex and varied industrial landscape in Turkey, with some sectors showing growth while others are experiencing a decline. It will be interesting to see how these trends evolve in the coming months and what impact they may have on the overall economy.

 

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