Turkey: Industrial Production Soars In May

The industrial production in Turkey rose 17.4% in May month-on-month, the country's statistical authority said on Monday.

When the subsectors of the industry were examined, manufacturing index posted the highest rise in the month with 19.3% compared with a month earlier.

"Mining and quarrying index also increased by 4.5% and electricity, gas, steam and air conditioning supply index rose by 4.9% in May 2020," the Turkish Statistical Institute (TurkStat) said.

Meanwhile, the industrial production dropped by 19.9% on an annual basis.

All the subsectors of the industry saw decreases in May 2020 compared to the same month of last year.

The manufacturing index diminished the most with 20.6% in May annually.

It was followed by the mining and quarrying index and electricity, gas, steam and air conditioning supply index with 14.2% and 13.3% decreases, respectively. -