Türkiye's industrial production declined for the fifth straight month in October, official data from the country's statistical institute revealed on Tuesday.
Industrial production posted an annual decline of 3.1% in October, deteriorating further from a 2.3% fall in September, Turkish Statistical Institute (TurkStat) data showed.
Industrial output stands out as an important tool for forecasting future gross domestic product (GDP) and economic performance.
The economic growth in Türkiye has been tempered in the last two quarters amid a long period of tight monetary policy, but officials have often reiterated the aim of achieving sustainable high growth, highlighting, however, also the need to lower inflation.
When the subsectors of the industry were examined, it was revealed that the output produced in the mining and quarrying sector plunged by 14.2% from last year, and that of manufacturing contracted by 3.3%.
On the other hand, the production of electricity, gas, steam and air conditioning supplies registered an increase of 7.6% on an annual basis, TurkStat said.
Month-on-month, industrial production fell 0.9% after a 1.6% rebound in September.
The mining and quarrying index fell by 4.8%, and the manufacturing index dropped by 1%, according to the data. However, the electricity, gas, steam and air conditioning supply index increased by 3.3% compared to the previous month.
