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