Industrial output see 1.3 pct monthly rise in February

Published 17.04.2019 00:09

Turkey's industrial production in February rose by 1.3 percent from a month earlier, the national statistical authority said yesterday.

Among the three main subindices, the manufacturing index posted the highest monthly rise in February, with 1.4 percent, the Turkish Statistical Institute (TurkStat) 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 a 5.5 percent annual decline, the manufacturing index performed worst among three main subindices. 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.

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

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