Turkey's industrial output sees slight growth in February

DAILY SABAH
ISTANBUL
Published 10.04.2017 22:17

Turkey's calendar-adjusted industrial production rose by 1 percent in February 2017, compared to the same month in 2016, Turkish Statistical Institute (TurkStat) announced Monday.

Industrial output is deemed a vital indicator of the Turkish economy and is considered a preliminary gauge for growth in the country's gross domestic product (GDP).

Among three main sub-indexes, the mining and quarrying index slipped by 13.6 percent while the electricity, gas, steam and air conditioning supply index and the manufacturing index advanced by 9.4 percent and 0.7 percent year-on-year, respectively.

"Industrial production decreased by 0.4 percent compared to the previous month," TurkStat said in a statement.

On a monthly basis, the mining and quarrying index rose by 5 percent while manufacturing index decreased 0.9 percent in February. The electricity, gas, steam and air conditioning supply index saw an increase of 0.6 percent in the same period.

"When the seasonally and calendar-adjusted main industrial groupings (MIGs) were examined, the largest decrease was in capital goods, by 4.6 percent was in February 2017, compared to the previous month," TurkStat added.

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