Turkish Industrial Output Growth Eases To 1.2%

(RTTNews) - Turkey's industrial production expanded for the third straight month in January, though at a slower pace, the Turkish Statistical Institute reported Monday.

Industrial production posted an annual increase of 1.2 percent in January, much slower than the 7.0 percent growth in December, which was the quickest expansion in ten months.

Among sectors, the annual growth in manufacturing production moderated to 1.2 percent from 6.7 percent. Similarly, utility sector output rose at a slower pace of 5.0 percent compared to an 11.4 percent jump a month ago.

The slowdown in overall growth was also impacted by a 0.7 percent decline of mining and quarrying output.

On a monthly basis, industrial production dropped 2.3 percent, reversing a 5.0 percent expansion in December.