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Financial News: Turkey's Industrial Output, Retail Sales Growth Improves

Turkey's Industrial Output, Retail Sales Growth Improves

03/12/2021 - 06:08:00 (RTTNews)

(RTTNews) - Turkey's industrial production and retail sales grew at faster rates in January, data from Turkstat showed on Friday.

Industrial production grew at a faster pace of 11.4 percent annually, following a 9.2 percent rise in December. Within sub-sectors, mining and quarrying output increased 15.4 percent and manufacturing output climbed 12.1 percent. Meanwhile, electricity, gas, steam and air conditioning supply output fell 0.1 percent annually.

Month-on-month, industrial production gained 1 percent, but slower than the 1.2 percent rise in December.

Another report from the statistical office showed that retail sales growth improved to 2 percent on year from 1.6 percent in December.

Sales of food, drinks and tobacco advanced 12.3 percent, while non-food sales decreased 0.6 percent. Automotive fuel sales decreased 5.8 percent annually.

Month-on-month, retail sales gained 0.3 percent, reversing a 7 percent fall in December.

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