8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

There was a big decrease in industrial production after the earthquake

TUIK published the industrial production index data for February 2023. Force majeure was declared in the provinces affected by the earthquake disaster and declarations were postponed. TUIK stated that it received 67% of responses from the surveys compiled from the provinces in this region. According to this...

There was a big decrease in industrial production after the earthquake

The industrial production index decreased by 6 percent on a monthly basis and by 8,2 percent on an annual basis in February, when the Kahramanmaraş and Hatay-centered earthquake disaster took place.

Turkish Statistical Institute (TUIK) announced the industrial production index results for February.

Accordingly, the data obtained from the monthly industrial production survey and value added tax (VAT) returns are used in the calculation of the industrial production index.

Force majeure was declared in the provinces affected by the earthquake disaster and the declarations were postponed, and 67 percent of the answers were obtained from the surveys compiled from these provinces.

For this reason, estimations were made using alternative data sources such as e-invoice, e-archive invoice data and statistical methods for missing observations in the calculations for February. The share of the size estimated by these methods in the total was determined as 1.94 percent.

In February, calendar adjusted industrial production decreased by 8.2 percent on an annual basis.
When the sub-sectors of the industry are analyzed, the mining and quarrying sector index decreased by 18.2 percent, the manufacturing industry index decreased by 8.2 percent and the electricity, gas, steam and air conditioning production and distribution sector index decreased by 4.5 percent in February compared to the same month of the previous year.

Seasonally and calendar adjusted industrial production decreased by 6 percent in February compared to the previous month.

When the sub-sectors of the industry are analyzed, the mining and quarrying sector index decreased by 11.2 percent and the manufacturing industry sector index by 6.6 percent in February compared to the previous month, while the electricity, gas, steam and air conditioning production and distribution sector index increased by 1.4 percent.

The unadjusted industrial production index also decreased by 8.23 percent y-o-y in February.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

China's steel demand expected to increase: PMI data support production

Tuesday, November 5, 2024

Malaysia initiates review of anti-dumping duties on stainless steel imports

Tuesday, November 5, 2024

China’s stainless steel exports increased by 33,7% in September

Tuesday, November 5, 2024

Kazakhstan government extends ban on scrap exports

Tuesday, November 5, 2024

Thyssenkrupp Steel Europe plans to renovate Duisburg plant

Tuesday, November 5, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now