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Turkish industrial production index at 110.9 in April

Turkish industrial production index at 110.9 in April
Index decreases 4% on yearly basis in April, TurkStat says

By Tuba Sahin

ANKARA (AA) - Industrial output in Turkey fell 4% year-on-year to 110.9 in April, according to the country's statistical authority on Tuesday.

Among three main sub-indices, electricity, gas, steam and air conditioning supply index was the sole sector on rise, increasing 0.7% during the same period, TurkStat said.

Mining and quarrying, and manufacturing indices decreased 9.3% and 4.2% on an annual basis in the month.

Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for gross domestic development (GDP) growth.

The production level was also lower than the same figure for March.

"Industrial production [in April] decreased by 1% compared with the previous month," TurkStat said in a statement.

On a monthly basis, electricity, gas, steam and air conditioning supply index rose by 1.9% in April.

The manufacturing index fell 7.8%, while the electricity, gas, steam and air conditioning supply index saw a decrease of 0.9% in the same period.

source: News Feed
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