Turkish industrial output up 9 pct in August

By Fatih Erkan Dogan

ANKARA (AA) - Turkish industrial production rose by more than 9 percent in August, the Turkish Statistical Institute (TurkStat) said Monday, as markets recovered from the effects of July’s attempted coup.

“Seasonally and calendar adjusted industrial production increased by 9.4 percent compared with the previous month,” TurkStat said in a report.

Manufacturing output rose 10.8 percent while mining and quarrying production jumped 5.1 percent on July. The electricity, gas, steam and air-conditioning supply index rose 2.8 percent.

On a yearly basis, industrial production was up 2.2 percent on the same month last year.

“There was a consensus in markets that industrial production would show a slower momentum in August but the new figures have shown a more positive outlook than forecast,” Enver Erkan, an analyst from KapitalFX investment brokers, said.

He said the new data should be treated as indication of normalization following the coup bid.