Tuesday, 02 January 2024 12:17 GMT

Türkiye Posts 2.9 Percent Surge in September Industrial Output


(MENAFN) Türkiye's industrial production climbed 2.9% year-over-year this September, according to data released Monday by the Turkish Statistical Institute (TurkStat).

Every industrial subsector recorded annual growth during the month, with electricity, gas, steam, and air conditioning supply leading the expansion at 5.3%—the strongest performance among all categories.

Manufacturing output advanced 2.7% compared to September of the previous year, while the mining and quarrying sector posted a 3.1% annual increase, TurkStat figures showed.

Technology-intensive production revealed stark contrasts across sophistication levels. High-technology manufacturing skyrocketed by 29% year-on-year, representing the most dramatic growth segment. Medium-high technology production rose 4.9%, and medium-low technology output increased 5.7%. However, low-technology manufacturing contracted by 4.7% during the same period.

Despite the positive annual trajectory, Türkiye's industrial production experienced a 2.2% monthly decline in September when compared to August figures, indicating potential short-term headwinds amid longer-term growth trends.

The mixed signals—robust annual gains coupled with monthly contraction—suggest Türkiye's industrial sector faces competing pressures as manufacturers navigate fluctuating demand patterns and seasonal variations heading into the final quarter.

MENAFN10112025000045017169ID1110319248



MENAFN

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search