Türkiye's industrial output falls more than expected

ANKARA

Türkiye's industrial output dropped 3.9% year-on-year in July, faster than expected, according to data released on Tuesday.

Production posted a sharp fall for electricity, gas, steam, and air conditioning supplies by 8.2% and manufacturing by 5.1% compared to last year, Turkish Statistical Institute (TurkStat) data showed.

The mining and quarrying, on the other hand, grew by 3.3% at an annualized pace in July.

On a monthly basis, industrial production ticked up 0.4% in July, switching from a 2.4% decline in June.

The mining and quarrying index rose 2.1% month-on-month in July, while the manufacturing sector edged higher 0.5%.

Electricity, gas, steam, and air conditioning supply index dropped 1.9% in the same period.