TURKSTAT Announced Industrial Production Data

TURKSTAT Announced Industrial Production Data TURKSTAT announced industrial production data for August. Industrial production in Turkey increased faster than expected 3.4 percent monthly and yearly 10.4 in August. According to a statement made by the Turkish Statistical Institute (TURKSTAT), industrial production had increased 10.4 percent in August. When the sub-sectors of the industry (with 2015 = 100 reference years) are examined, the mining and quarrying sector index in August this year is 5.2 percent compared to the same month of 2019, the manufacturing industry sector index is 11.4 percent, and electricity, gas, steam and air conditioning production and distribution sector index increased by 2.3 percent.   Industrial production increased by 3.4 percent on a monthly basis in August this year. When the sub-sectors of the industry are examined, in August 2020, the mining and quarrying sector index increased 2.5 percent, the manufacturing industry index gained 3.6 percent, and the electricity, gas, steam and air conditioning production and distribution sector index gained 1.3 percent compared to the previous month. The expectations of the economists who participated in the survey prepared by Bloomberg were that industrial production did not change on a monthly basis and increased by 7.1 percent on an annual basis.