Turkey Industrial Production Decline Slows In May

Turkey’s industrial production declined at a slower rate in May, data from the Turkish Statistical Institute showed on Friday.

Industrial production fell 1.3 percent year-on-year in May, following a 3.8 percent decline in April. Economists had expected a 2.0 percent fall.

Among sectors, mining and quarrying dropped 2.5 percent annually in May and manufacturing fell 1.8 percent. Electricity, gas and steam grew 4.1 percent.

Production of intermediate goods and durable consumer goods declined and those of energy, capital goods and non-durable goods increased.

On a monthly basis, industrial production rose 1.3 percent in May, after a 0.9 percent in the preceding month. Economists had expected a 0.4 percent fall.

The material has been provided by InstaForex Company – www.instaforex.com