Turkey’s industrial output growth eased notably in August amid a slowdown in the manufacturing sector, data from the Turkish Statistical Institute showed Tuesday.
Industrial production advanced 1.7 percent year-on-year in August, which was faster than the 1 percent increase economists had expected. The pace of growth slowed sharply from July’s 5.6 rise.
Among the sub-indexes, the mining and quarrying index increased by 6.1 percent and the manufacturing index grew by 1.2 percent. Electricity, gas, steam and air conditioning supply output index was up by 2.9 percent.
Month-on-month, industrial production fell 1.1 percent from July, when the output expanded 3.5 percent. Economists had forecast a decline of 2.4 percent for August.