16 October 2018•Update: 16 October 2018
By Tuba Sahin
ANKARA
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.
