Turkey's economy saw an annual hike of 26.9 percent in total turnover in July, said the country's statistical authority on Monday.
On a monthly basis, the economy's total turnover rose 3.8 percent in July, TurkStat said.
'The calendar-adjusted turnover index in industry increased by 36.3 percent in July 2018 compared with the same month of the previous year,' the institute said.
The statistical authority said that the indices in the trade sector and services sector rose 20.5 percent and 28.9 percent year-on-year, respectively.
'Calendar-adjusted turnover index in construction increased by 28.3 percent in July 2018 compared with the same month of the previous year,' it added.
According to TurkStat's definition, turnover is an important short-term indicator used to assess the country's economic situation.
'Turnover indices are calculated to follow the changes of this concept, which is composed of the sales of goods and services invoiced by the enterprise in the reference month over time, to monitor developments on a quarterly and yearly basis,' it said.
The institute also noted that all the enterprises which give value-added tax declarations to the country's Revenue Administration are included in the turnover index calculation.
By Muhammed Ali Gurtas
Anadolu Agency
energy@aa.com.tr