Industrial production up by 41

The calendar-adjusted industrial production jumped 40.7% in May compared to the same month last year, according to the Turkish Statistical Institute (TurkStat).

The improvement in the base effect was especially backed by the sub-index of the manufacturing sector, data from TurkStat showed.

The manufacturing index soared 42.8% year-on-year in May, while the mining and quarrying index shot up 33.4%.

The electricity, gas, steam, and air conditioning supply index also climbed 20.9% during the same period.

Meanwhile, on a monthly basis, industrial production rose 1.3%.

The term “calendar-adjusted” is used to refer to data where calendar and holiday-originating effects are removed.​​​​​​​

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