Industrial output in Turkey declines 0.1 percent in May

(MENAFN) According to the Turkish Statistical Institute (TurkStat), Türkiye's industrial production experienced a slight decline of 0.1 percent year-on-year in May, as reported on Wednesday. Among the various sub-sectors, the mining and quarrying sector saw a notable increase of 2.2 percent during the same period, while the electricity, gas, steam, and air conditioning supply sector also showed growth, rising by 0.9 percent. However, the manufacturing sector recorded a decrease of 0.4 percent year-on-year.

Analyzing further, the breakdown across different levels of technology intensity reveals nuanced trends. Low-tech industrial production decreased by 0.6 percent compared to the previous year, whereas medium-low and medium-high industrial production sectors saw increases of 0.8 percent and 2.8 percent, respectively. In contrast, high-tech production contracted significantly by 18 percent year-on-year.

On a monthly basis, Türkiye's industrial production index displayed a more positive trend, rising by 1.7 percent in May. This monthly increase was driven by a notable 2.1 percent rise in the manufacturing index and a 1 percent increase in the electricity, gas, steam, and air conditioning supply index. However, the mining and quarrying sector saw a decline of 3.9 percent compared to the previous month.

These figures underscore the mixed performance of Türkiye's industrial sectors, reflecting both annual challenges and monthly improvements. The data highlights varying impacts across different segments of industrial production, influenced by factors such as technological intensity and sector-specific dynamics. The monthly uptick suggests potential resilience and recovery in certain sectors, while ongoing fluctuations underscore the broader economic landscape's complexity and ongoing adjustments in response to domestic and global factors affecting industrial output.

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