UPDATE - Turkey's industrial output climbs in January

UPDATE WITH REMARKS FROM INDUSTRY MINISTER

By Tuba Sahin

ANKARA (AA) - Turkey's industrial output in January boosted 7.9% from the same month last year, the country's statistical authority said on Friday.

Among the three main sub-indices, the mining and quarrying index posted the highest annual increase in the month, with 8.5%, TurkStat said in a statement.

The manufacturing index went up 8.2%, while the electricity, gas, steam, and air conditioning supply index rose 3.8% during the same period.

Industrial production is considered a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth.

However, on a monthly basis the figure slipped 0.2% in January.

Commenting on the figure, Industry and Technology Minister Mustafa Varank noted that the upward trend was in January, before the novel coronavirus's negative effects.

Increases in intermediate and non-durable consumer goods had a positive impact on the January reading, Mustafa Varank said on Twitter.