Turkey’s industrial production at its strongest in 20 months

Amid global slowdown Turkish industrial production keeps its upward trend in August by rising for seventh consecutive month, strengthening outlook for third quarter growth

Photo by: AP
Photo by: AP

Industrial production, a leading indicator of a country’s growth climbed 7.2 percent in August, beating the expectations, reported the Turkish Statistical Institute (TUIK) on Thursday.

According to TUIK's report, the largest increase was in durable consumer goods, by 11.6 percent. Driven largely by a sharp increase in durable goods’ production, this was the biggest increase since January 2014 and this is the seventh consecutive rise recorded.

Industrial production had increased by 2.9 percent in August.

Minister of Science, Industry and Technology, Fikri Isik evaluated August data and reported that despite external volatility, Turkey’s industrial production picked up speed and beat expectations. İsik also said that the current data is showing a positive outlook for Turkey’s third quarter growth.  

TRTWorld and agencies