Industrial production fell by 2.9 percent monthly in May, remained unchanged annually

The Turkish Statistical Institute (TurkStat) has announced the industrial production index data for May. According to the data, industrial production decreased by 2.9 percent compared to the previous month, based on seasonally and calendar-adjusted calculations.

Calendar-adjusted industrial production showed no change compared to the same month of the previous year. A 16.4 percent decline was calculated on an annual basis in the unadjusted industrial production index.

Looking at the sub-sectors, the mining and quarrying sector index fell by 5 percent annually in May. In the same period, the manufacturing industry index increased by 0.3 percent, while the electricity, gas, steam, and air conditioning production and distribution index rose by 1 percent.

The picture was weaker in monthly changes. While the mining and quarrying index increased by 1.5 percent compared to the previous month, the manufacturing industry index recorded a 3.3 percent decline, and the electricity, gas, steam, and air conditioning production and distribution index recorded a 0.9 percent decline.

TurkStat also reported that revisions were made to the industrial production index figures for certain months in the released data set.