Turkey's Industrial Output Up In April

Turkey's calendar-adjusted industrial production jumped 66% in April compared to the same month of last year, the country's statistical authority announced Friday.

The improvement with the base effect was especially backed by the sub-index of the manufacturing sector, the Turkish Statistical Institute (TurkStat) data showed.

The manufacturing index soared 72.3% year-on-year in April while the electricity, gas, steam, and air conditioning supply index rose 26.6%.

The electricity, gas, steam, and air conditioning supply index went up 25.5% during the same period.

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

The main reading bounced back to its pre-pandemic level, up 13.8% from April 2019.

According to an Anadolu Agency survey on Tuesday, a group of 11 experts projected the calendar-adjusted industrial production index a 63.5% year-on-year rise in the figure.

On a monthly basis, the country's industrial output decreased 0.9% this April.

All sub-sectors posted declines compared to March, with mining and quarrying falling by 4.1%, manufacturing by 0.7%, and electricity, gas, steam, and air conditioning supply by 1.3% in April. -