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Financial News: Turkey Industrial Production Rises; Retail Sales Increase

Turkey Industrial Production Rises; Retail Sales Increase

01/14/2020 - 03:44:00 (RTTNews)

(RTTNews) - Turkey's industrial production rose in November, and retail sales growth increased, data from the Turkish Statistical Institute showed on Tuesday.

Industrial production rose a calendar adjusted 5.1 percent year-on-year in November, following a 3.9 percent increase in October.

Manufacturing output grew 5.3 percent annually in November.

Among other main sectors, mining and quarrying gained 7.2 percent, while electricity, gas, steam declined 1.2 percent.

Production of intermediate goods, non-durable consumer goods, capital goods and energy increased in November, while durable consumer goods declined.

On a month-on-month basis, industrial production rose 0.7 percent in November, reversing a 0.9 percent fall in the preceding month.

Separate data from the statistical office showed that the retail sales increased 8.5 percent annually in November, following a 6.3 percent rise in October.

On a monthly basis, retail sales rose 1.7 percent in November, following a 0.2 percent increase in the prior month.

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