UPDATE - Turkey's industrial output up in August

By Tuba Sahin

ANKARA (AA) - Turkey's industrial production in August rose 1.7 percent from the same month last year, the country's statistical authority said on Tuesday.

Among the three main sub-indices, the mining and quarrying index posted the highest annual rise in the month, with 6.1 percent, TurkStat said in a statement.

The manufacturing index went up 1.2 percent, while the electricity, gas, steam, and air conditioning supply index rose 2.9 percent during the same period.

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

However, on a monthly basis the figure also dropped 1.1 percent in August.

Among all sub-sectors of the seasonal and calendar-adjusted industrial sector, solely mining and quarrying saw a monthly increase in August, rising by 5 percent.

Manufacturing index and electricity, gas, steam and air conditioning supply index slipped by 1.5 percent and 0.8 percent, respectively, during the same period.

The term "calendar-adjusted" is used to refer to data without calendar and holiday-originated effects.

TurkStat will release the next industrial production figures on Nov. 16.