TURKEY

Turkey's industrial production rises in August

TURKEYS INDUSTRIAL PRODUCTION RISES IN AUGUST

Industrial production in Turkey rose 5.2 percent in August 2017, compared to the same month last year, the Turkish Statistical Institute (TurkStat) announced on Monday.

On an annual basis, among the three main sub-indices, the electricity, gas, steam and air-conditioning supply index enjoyed the biggest gain, up 7.3 percent in August, according to the data.

The mining and quarrying index rose 5.7 percent while the manufacturing index dropped 4.7 percent, in the same period, TurkStat said.

Turkey's industrial production index dropped slightly on a monthly basis with 0.1 percent in the month, it said.

The data showed that in August on a monthly basis, all the main sub-indices slipped, except the manufacturing index.

The mining and quarrying index fell 1.5 percent, the manufacturing index climbed 0.2 percent, and the electricity, gas, steam and air conditioning supply index lost 1.1 percent this August compared with the previous month, TurkStat said.

Turkey's industrial output is deemed a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth.

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