Financial News: Turkey Industrial Production Falls 3.9%

Turkey Industrial Production Falls 3.9%

09/10/2024 - 10:09:00 (RTTNews)

(RTTNews) - Turkey's industrial production declined for the second straight month in July, the Turkish Statistical Institute reported Tuesday.

Industrial production posted an annual decline of 3.9 percent in July, slower than the 5.0 percent fall in June.

The annual fall was driven by the 5.1 percent decrease in manufacturing output. Meanwhile, mining and quarrying output posted a growth of 3.3 percent, and electricity, gas, steam, and air conditioning supply registered a sharp rise of 8.2 percent.

Month-on-month, industrial production rebounded 0.4 after a 2.4 percent drop in June.

Another piece of data from the statistical office showed that the unemployment rate dropped to 8.8 percent in July from 9.2 percent in June.

The number of unemployed decreased to 3.167 million in July from 3.279 million a month ago.

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