Turkish economy sees 1.8 percent surge in total turnover for June

(MENAFN) Official data released on Monday revealed that the Turkish economy experienced a 1.8 percent increase in total turnover for the month of June, building on the momentum of the previous month. According to figures from the Turkish Statistical Institute (TurkStat), this monthly growth followed a 0.8 percent rise in May, indicating a steady upward trend in economic activity during the early summer months.

The construction sector was the standout performer in June, registering a remarkable 12 percent increase in turnover compared to May. This substantial growth reflects heightened activity within the sector, possibly driven by new projects and increased demand. Trade and services sectors also contributed to the overall economic expansion, with trade turnover increasing by 1.3 percent and the services sector seeing a 3.3 percent rise. These figures suggest that consumer spending and business activities in these areas remained robust, supporting the broader economic recovery.

In contrast, the industry sector faced a minor setback, with its turnover declining by 0.5 percent in June compared to the previous month. This slight dip might be attributed to various factors such as fluctuations in production output, supply chain disruptions, or shifts in market demand. Despite this decrease, the overall impact on the economy was mitigated by the strong performances in construction, trade, and services.

On an annual basis, the total turnover index in June showed a dramatic 58 percent surge compared to the same month last year. This significant year-over-year growth underscores the resilience and recovery of the Turkish economy, reflecting a strong rebound from the challenges faced in the previous year. The data highlights the dynamic nature of Turkey’s economic landscape, where certain sectors are driving growth, while others may experience short-term fluctuations.

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