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Financial News: Turkey Industrial Production Falls Further

Turkey Industrial Production Falls Further

06/18/2019 - 04:54:00 (RTTNews)

(RTTNews) - Turkey industrial production eased further for the eighth straight month and retail sales declined in April, data from the Turkish Statistical Institute showed on Tuesday.

Industrial production declined a calendar adjusted 4.0 percent year-on-year in April, following a 2.0 percent fall in March. Economists had expected a 2.2 percent decline in production.

Among sectors, mining and quarrying decreased 9.3 percent annually in April and manufacturing fell 4.2 percent.

Production of intermediate goods, capital goods and durable consumer goods declined, while those of non-durable consumer goods and energy increased.

On a month-on-month basis, industrial production fell 1.0 percent in April, after a 2.2 percent rise in the preceding month.

Separate data from the Turkish Statistical Institute showed that the retail sales declined 6.9 percent annually in April, following a 3.4 percent increase in the preceding month.

On a monthly basis, retail sales fell 1.8 percent in April, reversing 1.3 percent rise in the prior month.

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