Turkey’s industrial production dropped 9.8 pct year-on-year in December

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PHOTO: Business Turkey Today

Turkish calendar-adjusted industrial production in December 2018 decreased by 9.8 percent over the same month last year, the Hürriyet Daily News reported, citing the Turkish Statistics Institute (TurkStat).

Among three main sub-indices, the manufacturing index saw the highest annual decline, falling by 10.8 percent from December 2017, according to TurkStat.

The mining and quarrying index and electricity, gas, steam and air conditioning supply index fell by 2.1 percent and 1.2 percent year-on-year, respectively.

Monthly industrial production decreased by 1.4 percent compared with the previous month.

Quarterly industrial production decreased by 7.5 percent over the same quarter of the previous year.

Seasonally adjusted industrial production decreased by 5.2 percent compared with the previous quarter.

Industrial output is considered a vital indicator for the economy as it is seen as a preliminary gauge for gross domestic product (GDP).

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