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Financial News: Turkey Industrial Production Growth Improves Slightly

Turkey Industrial Production Growth Improves Slightly

07/17/2018 - 03:48:00 (RTTNews)

(RTTNews) - Turkey's industrial production growth improved unexpectedly in May, though marginally, preliminary figures from the Turkstat showed Tuesday.

Industrial production grew a calendar-adjusted 6.4 percent year-on-year in May, just above the 6.3 percent rise in April. Meanwhile, the growth was expected to ease to 5.9 percent.

The measure has been rising since October 2016.

Among sectors, mining and quarrying production surged 12.0 percent annually in May and manufacturing output advanced by 6.5 percent.

On a monthly basis, industrial production decreased a seasonally and calendar-adjusted 1.6 percent from April, when it rose by 1.0 percent.

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