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Turkey Industrial production May 2024

Turkey: Industrial output improves in May

Industrial output grew 1.6% in month-on-month seasonally adjusted terms in May, which contrasted April’s 5.0% decrease. The improvement was largely driven by a notable rebound in manufacturing output. In contrast, mining and quarrying output fell.

On an annual basis, factory output fell 0.1% in May, easing from April’s 0.7% fall. Meanwhile, annual average of industrial production was stable coming in at April’s 3.3% in May.

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