Home / Forex Analysis / Turkey Industrial Production Grows, Retail Sales Decline Slows

Turkey Industrial Production Grows, Retail Sales Decline Slows

Turkish industrial production rose and retail sales declined at a softer pace in June, data from Turkstat showed on Friday.

Industrial production rose 0.1 percent year-on-year in June, after a 19.4 percent fall in May. Economists had expected a 1.1 percent rise.

Manufacturing output grew 1.0 percent annually in June.

Meanwhile, production in mining and quarrying and output in the electricity, gas, steam decreased 8.0 percent and 6.4 percent, respectively.

On a monthly basis, industrial production rose 17.6 percent in June, after a 18.0 percent growth in the previous month.

Separate data from Turkstat showed that retail sales fell 0.8 percent yearly in June, following a 17.3 percent fall in May.

Non-food sales decreased 2.8 percent and automotive fuel sales fell 0.9 percent. Meanwhile, sales of food, drinks and tobacco increased 3.0 percent.

On a monthly basis, retail sales grew 16.5 percent in June, following a 5.9 percent increase in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com