ISTANBUL

Industrial production in Turkey expanded by 0.1% month-on-month in February and 8.8% annually, the country’s statistical authority said on Tuesday.

The index has been posting monthly increases since May 2020 and rising annually since June 2020, according to data by the Turkish Statistical Institute (TurkStat).

On a monthly basis, by sub-sectors, while mining and quarrying index was down by 2.3%, manufacturing and electricity-gas-steam-air-conditioning supply indices increased by 0.2% and 0.8%, respectively, in February.

Annually, mining and quarrying, and manufacturing indices rose by 15.9% and 9.3%, respectively, while electricity-gas-steam-air-conditioning supply index posted a decline of 0.8% in the same month.

According to an Anadolu Agency survey on Thursday, a group of 10 economists’ expectation for Turkey’s calendar-adjusted industrial production index was an increase of 9.04% on an annual basis – ranging between 5.7% and 12.42%.

The term “calendar-adjusted” is used to refer to data without calendar and holiday-originated effects.

In January, the adjusted and unadjusted industrial production indices were up 11.4% and 7.5%, respectively.

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