TURKEY

Turkey's industrial output goes up in April

TURKEYS INDUSTRIAL OUTPUT GOES UP IN APRIL
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Turkey's calendar-adjusted industrial production rose 6.2 percent, year-on-year, in April, the Turkish Statistical Institute (TurkStat) announced on Wednesday.

Industrial output is considered as a vital indicator for the economy as it is seen as a preliminary gauge for gross domestic product (GDP).

Among three main sub-indices, the mining and quarrying index saw the highest annual increase in the month, up 10.1 percent from the same month last year.

The manufacturing index went up 6.3 percent while the electricity, gas, steam and air conditioning supply index rose 3.8 percent during the same period.

The term "calendar-adjusted" is used to refer to data without calendar and holiday-originated effects.

TurkStat showed that industrial output also rose on a monthly basis in April, indicating a rise of 0.9 percent.

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