Industrial production index decreased by 0.3 percent on a monthly basis in March, but increased by 4.3 percent on an annual basis.
According to the latest data released by the Turkish Statistical Institute (TurkStat), industrial production in March showed a small decline on a monthly basis, but a significant increase on an annual basis. In March, industrial production index decreased by 0.3 percent, while an increase of 4.3 percent was recorded in annual comparison.
Looking at the details, the index for the mining and quarrying sector increased by 7.5 percent in March compared to the same period of the previous year, while the manufacturing industry sector rose by 4 percent and the index for the electricity, gas, steam and air conditioning production and distribution sector by 5.1 percent.
Analyzing the monthly performance, according to seasonally and calendar adjusted data, mining and quarrying sector index increased by 0.2 percent. However, the manufacturing industry sector decreased by 0.3 percent and the electricity, gas, steam and air conditioning production and distribution sector decreased by 1.5 percent.
These data released by TurkStat provide important information about the general outlook of Turkey’s industrial sector, as well as a detailed analysis of the sub-categories that exhibit different performances on a sectoral basis. The annual growth trend in industrial production reinforces the signs of economic recovery.
