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Financial News: Turkey Industrial Production, Retail Sales Increase

Turkey Industrial Production, Retail Sales Increase

02/13/2020 - 05:15:00 (RTTNews)

(RTTNews) - Turkey's industrial production and retail sales grew at stronger rates in December, data from the Turkish Statistical Institute showed on Thursday.

Industrial production rose a calendar adjusted 8.6 percent year-on-year in December, following a 4.9 percent increase in November.

Manufacturing output grew 9.1 percent annually in December.

Among other main sectors, mining and quarrying gained 9.8 percent, and electricity, gas, steam rose 0.3 percent.

Production of intermediate goods, non-durable consumer goods, capital goods, energy, and durable consumer goods increased in December.

On a month-on-month basis, industrial production grew 1.9 percent in December, following a 0.6 percent rise in the preceding month.

A separate report showed that retail sales increased 11.0 percent annually in December, following a 10.5 percent rise in November.

On a monthly basis, retail sales rose 1.1 percent in December, after a 1.9 percent increase in the prior month.

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