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Turkey’s industrial production declines 1.5% in July

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/09/2015 (17:38)
According to data from the Turkish Statistical Institute, Turkey’s industrial production decreased 1.5% on a seasonally and calendar adjusted basis in July compared with the previous month , missing economists’ initial estimates, which called for a gain of 0.4% in a survey conducted by Bloomberg. On a yearly basis, meanwhile, industrial production posted a calendar adjusted increase of 0.3% in July.

In the sub sectors, the manufacturing index rose by 0.2% while the electricity, gas, steam and air conditioning supply index increased 2.4% in July when compared to the same month of 2014. The mining and quarrying index, however, declined by 3% in July. On a monthly basis, meanwhile, the manufacturing index declined by 2.4% while the mining and quarrying index increased 1.2% compared with June. However, the electricity, gas, steam and air conditioning supply index posted an increase of 3.1% in July.

On a seasonally and calendar adjusted basis, among the main industrial groupings, the largest monthly decrease was reported in durable consumer goods, which slid 11.3% in July compared with the previous month while the highest increase was seen in the manufacture of wood and products of wood and cork, which rose 4.5% on the month.
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