Turkey Industrial Production, Retail Sales Rise Further In October

Turkish industrial production and retail sales grew at stronger rates in October, data from Turkstat showed on Monday.

Industrial production rose 10.2 percent year-on-year in October, after an 8.3 percent increase in September. Economists had expected a 9.0 percent growth.

Manufacturing output grew 11.0 percent annually in October.

Production in mining and quarrying rose 0.4 percent and output in the electricity, gas & steam gained 5.5 percent.

On a monthly basis, industrial production rose 1.1 percent in October, after a 1.7 percent growth in the previous month.

Separate data from the statistical office showed that retail sales rose 12.0 percent yearly in October, following an 8.4 percent gain in September.

Sales of food, drinks and tobacco increased 14.8 percent and non-food sales grew 12.8 percent. Automotive fuel sales rose 6.5 percent.

On a monthly basis, retail sales rose 4.2 percent in October, following a 3.1 percent increase in the previous month.

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