Industrial production increases above expectations

The industrial production index rose by 16.6% in March, compared to the same month of the previous year. The index was expected to increase by around 13.4%, according to the country’s economy world.  

Industrial production in the country rose by 0.7% month-on-month in March and 16.6% annually, the Turkish Statistical Institute (TurkStat) said.

The index has been posting monthly increases since May 2020 and rising annually since June 2020, according to data by TurkStat.

On a monthly basis and by sub-sectors, the mining and quarrying index was down by 1.7%, while the manufacturing and electricity-gas-steam-air-conditioning supply indices increased by 0.3% and 7.3%, respectively, in March.

Annually, all sub-sectors posted increases, electricity-gas-steam-air-conditioning supply by 11.9%, mining and quarrying by 14.8% and manufacturing by 17.2%.

In February, the adjusted industrial production indices on a monthly and annual basis were up 0.2% and 8.9%, respectively.

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