Turkish economy's total turnover more than doubles in May

By Tuba Sahin

ANKARA (AA) – The Turkish economy’s total turnover soared 132.7% year-on-year in May, according to the country’s statistical authority on Thursday.

Significant growth in the industry, construction, trade and services sectors fueled the surge in May's reading, the Turkish Statistical Institute (TurkStat) data showed.

The largest annual rise was seen in the services sector which is up 167.3% in the month, followed by trade at 132.6%.

The turnover in the industry and construction sectors surged by 128.7% and 78.1%, respectively, in May.

On a monthly basis, the seasonally and calendar-adjusted total turnover index was up 4.8% from April.

“Industry increased by 6.3%, trade increased by 3.5%, services increased by 7.8% and construction decreased by 1.4% on monthly basis in May,” read the TurkStat statement.