TÜİK announces June data: Industrial production declined by 1.4 percent annually

The Turkish Statistical Institute (TÜİK) has released the industrial production index data for June. Accordingly, calendar-adjusted industrial production decreased by 1.4 percent compared to the same month of the previous year.

The decline in mining and manufacturing was a factor in the annual drop. In June, the mining and quarrying sector index fell by 1.6 percent on an annual basis, while the manufacturing sector index fell by 1.5 percent. An increase of 1.1 percent was recorded in the electricity, gas, steam, and air conditioning production and distribution sector.

A limited increase was observed in the monthly data. Calendar and seasonally adjusted industrial production rose by 0.1 percent compared to the previous month.

Looking at the sub-sectors on a monthly basis, the mining and quarrying index fell by 0.5 percent, while there was no change in the manufacturing index. The electricity, gas, steam, and air conditioning production and distribution sector index stood out in the monthly outlook with an increase of 1.5 percent.

TÜİK also revised data for certain periods. An increase of 14.4 percent on an annual basis was calculated for the unadjusted industrial production index.

News Source: 12punto