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Trkiye’s industrial output falls more than expected

ANKARA: Trkiye'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. Source: Anadolu Agency