Turksat of Turkey says industrial production in the country declines by 4 percent

Based on information provided by TURKSTAT of Turkey, production in the country went down by 4 percent in April 2019, on an annual basis. Experts had expected a decline of 2.5 percent only. Monthly decline on the other hand was recorded at 1 percent.

Reports issues show that the leading indicator of growth continues to shrink in industrial production in Turkey. Industrial production fell by 4 per cent in April on year-on-year basis. Expectations were 2.5 percent decline. Industrial production, which was expected to rise by 0.1 percent on a monthly basis, fell by 1 percent.

When the sub-sectors of industry (2015 = 100 reference years) are examined, mining and quarrying sector index decreased by 9.3 percent and manufacturing industry index decreased by 4.2 percent in April 2019 compared to the same month of the previous year, while electricity, gas, steam and air conditioning production and distribution sector index increased by 0.7 percent.

Industrial production decreased by 1 percent compared to the previous month. When sub-sectors of industry (2015 = 100 reference years) are analyzed for April 2019  we see that the index of mining and quarrying decreased by 7.8 percent compared to the previous month and the index of manufacturing industry decreased by 0.9 percent, while electricity, gas, steam and air conditioning production and distribution sector decreased.