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FX.co ★ Turkish Industrial Production, Retail Sales Rise

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typeContent_19130:::2022-12-13T08:53:00

Turkish Industrial Production, Retail Sales Rise

Turkey's industrial production and retail sales increased in October, data from the Turkish Statistical Institute showed on Tuesday.

Industrial production advanced 2.5 percent year-on-year in October, following a 0.5 percent increase in September.

The overall growth in October was driven by a 3.7 percent rise in the manufacturing output.

Meanwhile, the mining and quarrying production declined 7.4 percent annually in October and the electricity, gas, steam and air conditioning output fell 4.8 percent.

Compared to the previous month, industrial production climbed 2.4 percent in October, after a 1.6 percent drop in the prior month.

Separate data from the statistical office revealed that retail sales increased 9.5 percent in October, the same as seen in the previous month.

Non-food sales, except automotive fuel, grew 11.8 percent yearly in October and food, drinks and tobacco sales surged 10.8 percent. Sales of automotive fuel rose 1.1 percent.

On a month-on-month basis, retail sales rose 1.4 percent in October, following a 1.2 percent gain in the preceding month.

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