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Financial News: Turkey Industrial Production Growth Slows; Retail Sales Ri

Turkey Industrial Production Growth Slows; Retail Sales Rise

04/13/2021 - 03:52:00 (RTTNews)

(RTTNews) - Turkey's industrial production grew at a softer pace in February and retail sales increased, data from Turkstat showed on Monday.

Industrial production increased 8.8 percent annually in February, after a 11.3 percent rise in January. Economists had expected a 8.9 percent growth.

Among the sub-sectors, mining and quarrying output increased 15.9 percent annually in February and manufacturing output gained 9.3 percent. Meanwhile, electricity, gas, steam and air conditioning supply output fell 0.8 percent.

On a month-on-month basis, industrial production rose 0.1 percent in February, after a 0.9 percent growth in the prior month.

Another report from the statistical office showed that retail sales increased rose 4.6 percent yearly in February, following a 2.6 percent gain in January.

Sales of food, drinks and tobacco advanced 8.1 percent and non-food sales increased 4.0 percent. Automotive fuel sales grew 4.6 percent annually.

On a monthly basis, retail sales gained 3.4 percent in February, following a 0.6 percent rise in the preceding month.

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