Turkey Industrial Production Rises Further; Retail Sales Growth Slows
Turkish industrial production increased and retail sales growth slowed in August, data from Turkstat showed on Tuesday.
Industrial production rose 10.4 percent year-on-year in August, following a 4.5 percent rise in July. Economists had expected a 3.0 percent rise.
Manufacturing output grew 11.4 percent annually in August.
Production in mining and quarrying gained 5.2 percent and output in the electricity, gas, steam increased 2.3 percent.
On a monthly basis, industrial production rose 3.4 percent in August, after a 8.5 percent growth in the previous month.
Separate data from the statistical office showed that retail sales rose 5.8 percent yearly in August, after a 12.5 percent gain in July.
Non-food sales increased 7.2 percent and sales of food, drinks and tobacco grew 5.2 percent. Automotive fuel sales rose 3.3 percent.
On a monthly basis, retail sales rose 1.4 percent in August, after a 9.2 percent increase in the previous month.