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Tuesday, a report by the Turkish Statistical Office said industrial output dropped 9.2% year-on-year in July, slower than a 9.7% drop in the preceding month. Economists expected a 9% fall.
On an annual basis, manufacturing output slipped 10.5% and utilities output fell 3.2%. These were partly offset by a 0.9% rise in mining output. Among the industrial groups, the steepest fall of 22.7% was recorded in capital goods.
Month-on-month, industrial output rose 0.9%, slowing sharply from a 7.3% growth in June.
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