Turkey's industrial production posted an increase of 2.1% month-on-month in March, Turkish Statistical Institute (TurkStat) said Tuesday.
Among the three main sub-indices, the mining and quarrying, and manufacturing indices rose in the month, 4.1% and 2.2%, respectively, according to TurkStat's statement.
Meanwhile the electricity, gas, steam and air conditioning supply index dropped by 0.6% during the same period.
Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for gross domestic development (GDP) growth.
However, the figure dropped 2.2% in March, compared with the same month last year.
When the subsectors of the industry were examined annually, only the mining and quarrying index saw an increase, up 2.2%.
The manufacturing, and electricity, gas, steam and air conditioning supply indices fell by 2.6% and 0.7%, respectively, year-on-year in March.
According to a survey conducted by Anadolu Agency last week, the median estimate for annual industrial production in March was a decrease of 3.6%.
A group of 15 economists forecast the seasonally and calendar adjusted index to surge 1.6% on a monthly basis.
The term "calendar-adjusted" is used to refer to data without calendar and holiday-originating effects.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.