Industrial production remains below expectations
August industrial production data has been released. Accordingly, production, which was projected to be 3.7 percent annually, remained at the 3.1 percent level.
AA
The industrial production data for August has been announced.
Industrial production declined by 0.8 percent on a monthly basis, while it stood at 3.1 percent on an annual basis. Expectations were for industrial production to reach 3.7 percent annually.
When the sub-sectors of industry (with 2015=100 as the reference year) are examined, the mining and quarrying sector index increased by 5.1 percent, the manufacturing sector index by 1.8 percent, and the electricity, gas, steam, and air conditioning production and distribution sector index by 4.9 percent in August 2023 compared to the same month of the previous year.
MONTHLY INDUSTRIAL PRODUCTION DECLINED BY 0.8 PERCENT
When the sub-sectors of industry are examined, the mining and quarrying sector index increased by 0.2 percent, the manufacturing sector index decreased by 1.3 percent, and the electricity, gas, steam, and air conditioning production and distribution sector index increased by 2.4 percent in August 2023 compared to the previous month.