Industrial output climbs 14.5 percent yearly in July 2017, according to TurkStat data
Turkey’s industrial production increased by 14.5 percent in July 2017 compared to the same month last year, the Turkish Statistical Institute (TurkStat) announced.
On an annual basis, the manufacturing index saw the biggest rise in July, up 16 percent, among all three main sub-indices, TurkStat said.
The electricity, gas, steam and air-conditioning supply index advanced by 11.7 percent while the mining and quarrying index slightly increased 0.8 percent in the same period.
Meanwhile, on a monthly basis, the country’s industrial production also increased by 2.3 percent in July, TurkStat noted.
In July, the electricity, gas, steam and air-conditioning supply and the manufacturing indices rose by 4.8 percent and 2.2 percent, respectively. The mining and quarrying index fell by 2.6 percent in the month.
According to a survey, the median estimate for annual industrial production rise in July 2017 stood at 16.1 percent.
Turkey’s industrial output is deemed a vital indicator for the economy as it is seen as a preliminary gauge for GDP growth.