Turkey's June Industrial Output Falls At Slower Pace

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Industrial production in Turkey dropped 9.7% year-on-year in June, slower than a 17.4% drop in May, the Turkish Statistical Institute or Turkstat said Monday. Economists expected a fall of 12.3%.

On an annual basis, manufacturing output fell 10.6% while mining output was down 7.9%. Production of utilities slipped 3.8%. Among the industrial groups, capital goods showed the biggest fall of 29.7% in June.

Month-on-month, industrial output rose 7.3% in June, faster than a 5% rise in May.

(Market News Provided by RTTNews)