Industrial Production Contracted in February

The industrial production index shrank in the month of February. Production declined by 1.6 percent on a monthly basis. The Turkish Statistical Institute (TÜİK) has released data on the industrial production index for February. Accordingly, the seasonally adjusted industrial production in that month showed a decrease of 1.9 percent compared to the same month last year. When the subsectors of the industry are examined, in February, the mining and quarrying sector index decreased by 5.8 percent compared to the same month the previous year, the manufacturing sector index decreased by 2.5 percent, while the electricity, gas, steam and air conditioning production and distribution sector index increased by 8.5 percent. Unadjusted industrial production index experienced a 5.2 percent decrease on an annual basis. Seasonally and calendar-adjusted industrial production decreased by 1.6 percent compared to the previous month in February. When the subsectors of the industry are examined, in February the mining and quarrying sector index decreased by 7.6 percent compared to the previous month, the manufacturing sector index decreased by 1.6 percent, while the electricity, gas, steam and air conditioning production and distribution sector index increased by 3.5 percent.