Turkey's industrial production up 5.6 pct in May, above expectations

Calendar-adjusted industrial production increased by 5.6 percent in May when compared with the same month last year, surpassing expectations.

According to data released by the Turkish Statistical Institute (TurkStat) with reference to industrial sub-sectors for May 2016, when compared with the same month last year the mining and quarrying index decreased 0.8 percent; the manufacturing index increased 6.3 percent and the index for supply of electricity, gas, steam and air conditioning increased 3.2 percent.

When compared with the previous month, seasonally- and calendar-adjusted industrial production rose 1.6 percent in May.

When examining industrial sub-sectors for May 2016, when compared with the previous month the mining and quarrying index increased by 0.1 percent; the manufacturing index increased 1.9 percent and the index for supply of electricity, gas, steam and air conditioning increased 0.3 percent.

According to the main industrial groupings (MIGs) classification, the largest increase was in capital goods by 3.5 percent for May of 2016, when compared with the previous month.

For manufacturing sub-sectors in May when compared with the previous month, the largest increase was in the manufacture of other transport equipment at 12 percent; manufacture of motor vehicles, trailers and semi-trailers follows at 11.1 percent and manufacture of computer, electronic and optical products at 10.5 percent.

In seasonally- and calendar-adjusted industrial manufacturing, the highest decrease was seen in the manufacture of leather and related products at 7.7 percent.