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Turkey: Industrial production increased by 7.6% on an annual basis

While the industrial production index decreased by 2.4% on a monthly basis in January, it increased by 7.6% on an annual basis.

While industrial production decreased by 2.4% on a monthly basis in January, it increased by 7.6% on an annual basis. The Turkish Statistical Institute (TUIK) announced the results of the industrial production index for January.

Accordingly, the calendar-adjusted industrial production index increased by 7.6% in January compared to the same month of the previous year. The unadjusted industrial production index also increased by 8.2% on an annual basis.

When the sub-sectors of the industry are analyzed, it is seen that the index increased by 8.3% in the mining and quarrying sector in the quarry, 7.7% in the manufacturing industry sector and 5.6% in the electricity, gas, steam and air conditioning production and distribution sector.

MONTHLY DATA IN INDUSTRIAL PRODUCTION

Seasonally and calendar-adjusted industrial production decreased by 2.4% in January compared to December 2021.

In the said month, the mining and quarrying sector index increased by 11.2% compared to the previous month, while the manufacturing industry index decreased by 3.1% and the electricity, gas, steam and air conditioning production and distribution sector index decreased by 1.6%.

Economists participating in the AA Finans Industrial Production Expectation Survey expected the calendar-adjusted industrial production index to increase by 9.1% in January compared to the same period of the previous year.

The unadjusted industrial production index was also predicted to increase by 9.8% on an annual basis.

Source: Sabah / Translated by Irem Yildiz

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