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Turkey Industrial Production Rises; Retail Sales Growth Slows

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(RTTNews) – Turkish industrial production increased and retail sales grew at a softer pace in November, data from Turkstat showed on Wednesday.

Industrial production rose 11.0 percent year-on-year in November, after an 10.4 percent increase in October. Economists had expected a 9.6 percent growth.

Manufacturing output grew 11.6 percent annually in November.

Production in mining and quarrying rose 4.6 percent and output in the electricity, gas & steam gained 7.5 percent.

On a monthly basis, industrial production rose 1.3 percent in November, following a 1.2 percent gain in the previous month.

Separate data from the statistical office showed that retail sales rose 11.9 percent yearly in November, following an 12.4 percent growth in October.

Sales of food, drinks and tobacco increased 11.4 percent and non-food sales grew 13.8 percent. Automotive fuel sales rose 7.5 percent.

On a monthly basis, retail sales rose 2.2 percent in November, following a 4.3 percent increase in the previous month.

Another data from Turkstat showed that the total turnover grew 38.9 percent yearly in November, following a 31.5 percent rise in October.

On a month-on-month basis, total turnover increased 5.4 percent in November, following a 4.2 percent rise in the prior month.