Turkey's industrial output climbs 6.4 percent year-on-year in May, beats forecasts

Published 17.07.2018 10:15
Updated 17.07.2018 13:52
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Turkey's industrial production surged 6.4 percent in May, compared with the same month last year, the the Turkish Statistical Institute (TurkStat) announced Tuesday.

Analysts expected industrial output to increase by around 5 percent in the said month year-on-year.

Among all manufacturing indices, the highest increase year-on-year was recorded in high-tech products with a 12.2-percent hike, official data showed.

On a monthly basis, the country's total industrial output fell 1.6 percent in May, compared with April, noted.

The institute noted that the highest annual increase was seen in the electricity, gas, steam and air conditioning supply index – up 12 percent – among all sub-sectors of the industrial sector.

The manufacturing index, with a 6.5-percent hike, and the mining and quarrying index, with a 1.9-percent rise, followed.

The computer/electronic/optical products index climbed 40.7 percent in May compared to the same month last year while the manufacture of chemicals and chemical products rose 17.9 percent.

On the mining and quarrying side, mining of coal and lignite index recorded the biggest rise – up 25.4 percent – while the extraction of crude petroleum and natural gas index followed with a 17.9-percent rise.

In industry, the production of non-durable consumer goods rose the most with an 8.6-percent annual increase, and capital goods and durable consumer goods saw 6.1 and 5.8-percent year-on-year increases, respectively.

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