UPDATE - Turkey: Industrial output rises 7.5% in February

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By Gokhan Ergocun

ISTANBUL (AA) - Turkey's industrial production posted an increase of 7.5% year-on-year in February 2020, Turkish Statistical Institute (TurkStat) said on Monday.

In the month, all three main sub-indices -- mining and quarrying; manufacturing; and electricity, gas, steam and air conditioning -- rose 1.7%, 8% and 4.4%, respectively.

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

But the figure was up 1.2% in February, compared with the previous month.

In terms of industrial sub-sectors, only the monthly figures for the mining and quarrying index saw a decline with a fall of 5.8%.

The manufacturing and electricity, gas, steam and air conditioning supply indices in February rose year-on-year by 1.6% and 1.3%, respectively.

TurkStat calculated the index based on its monthly industrial production survey.

It will release its next report on industrial output on May 14.

An Anadolu Agency survey on Friday showed that economists had estimated the index to see an annual rise of 7.9% in February.