Turkey’s industrial output falls at fastest speed for 8 months
Turkey’s industrial production declined at its fastest pace in eight months in May, data published by the Turkish Statistical Institute revealed on Monday. Industrial production declined 1.5% month-onmonth in May, reversing April’s 2.2% increase. This was the biggest monthly fall since last September, when output slid 3.7%. Mining and quarrying output dropped 0.5% and manufacturing output decreased 2%, while utility output rose 1.7%. On a yearly basis, industrial production growth eased more than expected to 3.5% in May from 6.7% in April. Output was expected to grow to 5.8%.