Turkey’s industrial production falls sequentially and rises year-on-year

On a sequential basis, Turkish industrial production dropped 1.5 percent in May, whereas it grew 3.5 percent on a year-on-year basis, showed Statistics Turkey. Looking at the sub sectors, mining and quarrying index dropped 0.5 percent and manufacturing index dropped 2 percent on a month-on-month basis. Meanwhile, electricity, gas, steam and air conditioning supply index rose 1.7 percent in May.

On a year-on-year basis, mining and quarrying index rose 3.5 percent, while manufacturing index was up 3.1 percent. Electricity, gas, steam and air conditioning supply index were up 6 percent year-on-year in May.

The highest decrease on a sequential basis was seen in capital goods that recorded a drop of 9.4 percent month-on-month. Looking at sub sectors of the seasonally and calendar adjusted manufacturing, the highest drop was in manufacture of other transport equipment by 54.9 percent, followed by drops in manufacture of computer, electronic and optical products by 12.6 percent.

Meanwhile, the largest rise was seen in manufacture of machinery and equipment by 9.6 percent, followed by the manufacture of motor vehicles, trailers and semi-trailers by 3.3 percent. Manufacture of fabricated metal products, except machinery and equipment rose 2.1 percent in May on sequential basis.

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