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Financial News: Turkey Industrial Production, Retail Sales Growth Slows

Turkey Industrial Production, Retail Sales Growth Slows

02/12/2021 - 02:42:00 (RTTNews)

(RTTNews) - Turkish industrial production and retail sales grew at softer rates in December, data from Turkstat showed on Friday.

Industrial production rose 9.0 percent year-on-year in December, after an 11.0 percent increase in November. Economists had expected a 8.7 percent growth.

Manufacturing output grew 9.5 percent annually in December.

Production in mining and quarrying rose 6.0 percent and output in the electricity, gas & steam gained 4.9 percent.

On a monthly basis, industrial production rose 1.3 percent in December, same as seen in the previous month.

Separate data from the statistical office showed that retail sales rose 0.6 percent yearly in December, after an 12.3 percent growth in November.

Sales of food, drinks and tobacco increased 8.8 percent, while non-food sales declined 3.3 percent. Automotive fuel sales fell 1.1 percent.

On a monthly basis, retail sales decreased 4.2 percent in December, after a 2.0 percent increase in the previous month.

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