Financial News: Turkey's Industrial Output Expands Most In 2 Years

Turkey's Industrial Output Expands Most In 2 Years

04/08/2024 - 07:08:00 (RTTNews)

(RTTNews) - Turkey's industrial production grew at the fastest pace in two years as all subsectors performed positively in February, data from the Turkish Statistical Institute showed on Monday.

Industrial production surged 11.5 percent year-on-year in February, much faster than the 1.3 percent increase in January.

This was the tenth successive month of expansion, and the latest rate of growth was the quickest since February 2022, when production had risen by 12.3 percent.

The annual growth in mining and quarrying output was 12.8 percent. Manufacturing activity advanced 11.9 percent, and the output produced in the utility sector was 7.7 percent higher.

Compared to the previous month, industrial production increased at a faster pace of 3.2 percent in February after a 0.3 percent gain a month ago.

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