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Financial News: Turkey Industrial Production, Retail Sales Decline Slows I

Turkey Industrial Production, Retail Sales Decline Slows In May

07/13/2020 - 05:59:00 (RTTNews)

(RTTNews) - Turkish industrial production and retail sales declined at a softer pace in May, data from Turkstat showed on Monday.

Industrial production decreased 19.9 percent year-on-year in May, following a 31.3 percent fall in April.

Manufacturing output fell 20.6 percent annually in May. Production in mining and quarrying and output in the electricity, gas, steam decreased 14.2 percent and 13.3 percent, respectively.

On a monthly basis, industrial production grew 17.4 percent in May, after a 30.2 percent fall in the previous month.

Separate data from Turkstat showed that retail sales declined 16.7 percent yearly in May, following a 19.2 percent fall in April.

Non-food sales decreased 25.5 percent and automotive fuel sales fell 22.6 percent. Meanwhile, sales of food, drinks and tobacco increased 3.0 percent.

On a monthly basis, retail sales grew 3.8 percent in May, following a 21.2 percent decrease in the previous month.

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