Turkey’s industrial production dropped 9.8 percent annually in December 2018

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Turkish calendar-adjusted industrial production in December 2018 decreased by 9.8 percent compared with the same month of the previous year, the Turkish Statistical Institute (TÜİK) said on Feb. 14.

Among three main sub-indices, the manufacturing index saw the highest annual decline in the month, falling by 10.8 percent from December 2017, according to TÜİK.

The mining and quarrying index and electricity, gas, steam and air conditioning supply index fell by 2.1 percent and 1.2 percent year-on-year respectively.

Industrial production decreased by 1.4 percent compared with the previous month.

ndustrial production decreased by 7.5 percent compared with the same quarter of the previous year.

The seasonally- and calendar-adjusted industrial production decreased by 5.2 percent compared with the previous quarter.

Industrial output is considered a vital indicator for the economy as it is seen as a preliminary gauge for gross domestic product (GDP).

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