Tuesday, 02 January 2024 12:17 GMT

Türkiye Sees 7.1 Percent Increase in August Industrial Output


(MENAFN) Türkiye’s industrial production surged 7.1% year-on-year in August, driven by broad gains across nearly all sectors, according to data released Thursday by the Turkish Statistical Institute (TurkStat).

Out of the 12 industrial sub-sectors tracked, 11 recorded annual increases, while only one declined.

Notably, the capital goods index jumped 21%, medium-high technology output rose 19%, and high technology production advanced 8.5% compared to the same month last year.

The sole drag came from durable consumer goods, which contracted 4.6% year-on-year.

Month-over-month, overall industrial activity edged up 0.4% in August. The sector showed a more mixed pattern on this basis, with six sub-sectors rising and six declining.

Leading the monthly gains, medium-high technology production climbed 4.4%, non-durable consumer goods increased 1.9%, and medium-low technology rose 1.2%.

However, the high technology index posted a sharp 16.3% drop, while electricity, gas, steam output fell 2.5% and the energy sector slipped 1.4% compared to July.

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