Turkish Statistical Institute, TÜİK, shared industrial production data for July 2023 at 10:00. According to TÜİK data, industrial production, which has been in the neutral zone recently, increased by 7.4% annually as of July.
According to annual data, the biggest contribution to industrial production came from the capital goods subsector. The sector coded SEM showed a 25.6% production increase within one year. While medium-low, medium-high and high technology branches also performed better than the general growth, the manufacturing industry remained in line with the general data.
The sub-branches in industrial production that performed worse than the general outlook on an annual basis were mining and quarrying, electricity, intermediate goods, non-durable consumer goods, energy and low technology.
Although the annual figures announced by TUIK seem like a significant increase, there is a different story on a monthly basis. Industrial production in July decreased by 0.4% compared to June.