Istanbul, Sep 8 () – Industrial production index, leading indicator of economic growth in Turkey, shrank by 1.5 percent in July on monthly basis, against the expectations of horizontal growth.
According to data released by Turkstat, seasonal and calendar adjusted industrial production dropped by 1.5 percent against previous month in July. Banking economists and analysts were not expecting any changes on monthly basis in industrial production index.
While mining and quarrying index rose by 1.2 percent, manufacturing index dropped by 2.4 percent, and electricity, gas, steam and air conditioning supply index rose by 3.1 percent in July 2015, against the previous month.
Calendar adjusted industrial production, on the other hand, rose by 0.3 percent against the same month last year.
While mining and quarrying index dropped by 3.0 percent, manufacturing index rose by 0.2 percent and electricity, gas, steam and air conditioning supply index rose by 2.4 percent in July 2015, against the same month last year.