Turkey’s industrial production decreased 1.6 percent in May

Turkey’s industrial output contracted 1.6 percent in May compared with the previous month, the Turkish Statistical Institute (TÜİK) announced on July 17.

When the sub sectors of the industrial sector were examined, mining and quarrying index decreased by 1.6 percent, manufacturing index decreased by 1.7 percent, and electricity, gas, steam and air conditioning supply index decreased by 0.1 percent in May, compared with the previous month.

Compared with the same month of the previous year, the industrial production increased by 6.4 percent, TÜİK said.

Annually, mining and quarrying index increased by 12 percent, manufacturing index increased by 6.5 percent, and electricity, gas, steam and air conditioning supply index increased by 1.9 percent in May 2018.

The expectations in the markets had been pointing to a 0.9 percent monthly increase and 5.9 percent annual increase. (HÜRRİYETDAILYNEWS)