• İstanbul 24 °C
  • Ankara 23 °C

UPDATE- 1st sign of V shaped recovery seen: Turkey

UPDATE- 1st sign of V shaped recovery seen: Turkey
Country's finance minister says wheels of industry starting to accelerate again



By Aysu Bicer

ANKARA (AA) – The first sign of a 'V' shaped recovery is being seen in both industrial production and turnover indices, Turkey's treasury and finance minister said on Monday.

Commenting on the latest figures on the Turkish economy, Berat Albayrak said in a tweet that the wheels in the industry have started to accelerate again.

The industrial production in Turkey rose 17.4% in May month-on-month, the country’s statistical authority said on Monday.

In addition, he noted, the total turnover index in the industry, construction, trade and service sectors rose by 12.5% in the same period.

"We saw the first signal of 'V' shaped recovery in both indices," he concluded.

- On data

"All global markets experienced a sharp contraction in April. We were one of the top three countries that recovered in May, all sub-items of the index were positive," Mustafa Varank, Turkey's industry and technology minister, also said on Twitter.

When the subsectors of the industry were examined, the manufacturing index posted the highest rise in the month at 19.3% compared with a month earlier.

"Mining and quarrying index also increased by 4.5% and electricity, gas, steam and air conditioning supply index rose by 4.9% in May 2020," the Turkish Statistical Institute (TurkStat) said.

Meanwhile, the industrial production dropped by 19.9% on an annual basis.

All the subsectors of the industry saw decreases in May 2020 compared to the same month of last year.

The manufacturing index diminished the most with 20.6% in May annually.

It was followed by the mining and quarrying index and electricity, gas, steam and air conditioning supply index with 14.2% and 13.3% decreases, respectively.

source: News Feed
This news is a total 16 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim