Turkish economy: Total turnover up 26.2% in September

Total turnover index including industry, construction, trade, and services sectors increased by 26.2% on annual basis

By Yunus Girgin

ISTANBUL (AA) - Turkey's turnover index improved 26.2% in September over the same month a year earlier, the statistical authority announced on Friday.

The index saw the biggest change in the industry and trade sector, both up 30.9% year-on-year in September, the TurkStat figures showed.

The construction index registered a 23.3% annual rise, while the services sector posted an increase of 4.1%.

On a monthly basis, the seasonally and calendar-adjusted total turnover index was up 3.4% in September.

According to TurkStat, turnover is an important short-term indicator used to assess the country's economic situation.

Turnover indices are composed of sales of goods and services invoiced by enterprises in the reference month over a certain period to monitor developments on a quarterly and yearly basis.

All enterprises that declare their value-added tax to the country's revenue administration are included in the turnover index calculation.

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