UPDATE - Turkey: Industrial production up in July

UPDATES WITH REMARKS FROM INDUSTRY MINISTER

By Aysu Bicer

ANKARA (AA) – The industrial production in Turkey rose 8.4% month-on-month in July, the country’s statistical authority said on Monday.

When the subsectors of the industry were examined, the manufacturing index posted the highest rise in the month with 8.6% compared with a month earlier.

"Mining and quarrying index also increased by 5.4% and electricity, gas, steam and air conditioning supply index rose by 6.4% in July 2020," the Turkish Statistical Institute (TurkStat) said.

Meanwhile, industrial production grew 4.4% on an annual basis.

While the mining and quarrying index went down 4.9%, the manufacturing index posted a 5.1% rise in July compared with the same month of the previous year.

The electricity, gas, steam, and air conditioning supply index also increased 1.4% in July annually.

Commenting on the figures, Industry and Technology Minister Mustafa Varank said that Turkey has been continuing to distinguish itself positively in terms of production in the global economy, taking its place among the top three.

"All sub-items were positive on a monthly basis," Varank said on Twitter, adding the measures implemented stimulated the real sector.

"We expect high growth in the third quarter," he concluded.