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Turkey Industrial Production Decline Slows In July

Turkey industrial production declined at a slower-than-expected pace in July, data from the Turkish Statistical Institute showed on Friday.

Industrial production fell 1.2 percent year-on-year in July, following a 3.7 percent decline in June. Economists had expected a 2.6 percent fall.

Manufacturing output decreased 1.3 percent annually in July.

Among the main industrial sectors, mining and quarrying rose 7.8 percent in July, while electricity, gas and steam declined 2.4 percent.

Production of intermediate goods and durable consumer goods decreased and those of non-durable goods, energy and capital goods increased.

On a monthly basis, industrial production grew 4.3 percent in July, after a 3.5 percent fall in the previous month. Economists had expected a 1.4 percent rise.

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