Money

Total turnover in Turkish economy nearly doubled in April

Total turnover index including trade, industry, construction, services sectors jump 97% from last year

The Turkish economy’s total turnover nearly doubled in April up 97% compared to the same period last year, the country’s statistical authority revealed on Friday.

The improvement stemmed from rises in sectors of industry, construction, trade, and services, TurkStat said in a statement.

The turnover for the industry sector surged 120.4% year-on-year in April while trade climbed 92.5%.

The services and construction indexes rose 77.6% and 55.9%, respectively.

On a monthly basis, the seasonal- and calendar-adjusted total turnover index slipped 1.8% in April.

Compared to March, industry was the sole sector posting a rise by 3.9% in May, while trade, services and construction fell by 5.4%, 2.7% and 0.1%, respectively.

According to TurkStat, turnover is an important short-term indicator used to assess the country’s economic situation.

Source
AA

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