TurkStat announces industrial output index in Jan.

By Tuba Sahin

ANKARA (AA) - Industrial production in Turkey climbed by 1 percent in January on monthly basis, the country's statistical authority announced on Thursday.

Among three main sub-indices, the mining and quarrying index enjoyed the highest increase with 1.7 percent in the same period.

The manufacturing index rose 1.1 percent, while the electricity, gas, steam and air conditioning supply index slightly went up by 0.1 percent this January compared to December 2018.

On a yearly basis, calendar adjusted industrial production in Turkey dropped 7.3 percent year-on-year in January.

Decreasing by an annual 7.5 percent, the manufacturing index suffered the most among three main sub-indices, the data showed.

It was followed by the mining and quarrying index with a decline of 7 percent compared to the same month of the previous year.

The electricity, gas, steam and air conditioning supply index also dropped 1.7 percent year-on-year during the month.

Industrial output is deemed a vital indicator for the economy, as it is seen as a preliminary gauge for GDP growth.