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FX.co ★ Turkey Industrial Production, Retail Sales Increase In April

Turkey Industrial Production, Retail Sales Increase In April

Turkey's industrial production and retail sales increased in April, data from Turkstat showed on Friday.

Industrial production increased 66.0 percent annually in April, following a 16.7 percent rise in March. Economists had expected a 65.0 percent growth.

Among the sub-sectors, mining and quarrying output increased 35.5 percent annually in April and manufacturing output grew 72.3 percent. Electricity, gas, steam and air conditioning supply output rose 26.6 percent.

On a month-on-month basis, industrial production fell 0.9 percent in April, after a 0.7 percent gain in the prior month.

Another report from the statistical office showed that retail sales increased 41.7 percent yearly in April, following a 19.8 percent gain in March.

Sales of non-food sales increased 74.6 percent annually in April and automotive fuel sales grew 38.5 percent. Sales of food, drinks and tobacco declined 10.2 percent.

On a monthly basis, retail sales dropped 6.3 percent in April, after a 5.4 percent rise in the preceding month.

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