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Industrial production in Türkiye at 1-year high

According to the latest data released by the Turkish Statistical Institute (TUIK), Türkiye's industrial production rose by 7.4% yoy, the highest level in a year. However, there was a monthly decline of 0.4%. According to this data, Türkiye's industrial sector displayed a strong performance in July 2023.

Industrial production in Türkiye at 1-year high

Focusing on industrial sub-sectors, mining and quarrying sector index increased by 1.7% yoy, while manufacturing industry index recorded a remarkable 7.4% growth. Moreover, electricity, gas, steam and air conditioning production and distribution sector index also increased by 4.1%, making a positive contribution to the overall industrial production.

However, there was a monthly decline. In July, mining and quarrying sector index increased by 10.5% mom, while manufacturing industry index decreased by 1.4%. The index for electricity, gas, steam and air conditioning production and distribution sector increased by 3.7%.

These data show that Türkiye's industrial sector continued to grow on an annual basis, while there was a small decline on a monthly basis. Industrial production seems to be continuing its recovery process.

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