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Turkey Industrial Production, Retail Sales Growth Slows In January

Turkey's industrial production and retail sales grew at a softer pace in January, data from the Turkish Statistical Institute showed on Friday.

Industrial production rose a calendar adjusted 9.6 percent year-on-year in January, after a 11.9 percent increase in December. Economists had expected a 7.0 percent rise.

Manufacturing output grew 8.2 percent annually in January.

Among other main sectors, mining and quarrying gained 8.5 percent, and electricity, gas, steam rose 3.8 percent.

Production of intermediate goods, non-durable consumer goods, capital goods, energy, and durable consumer goods increased in January.

On a month-on-month basis, industrial production fell 0.2 percent in January, after a 1.9 percent rise in the preceding month.

A separate report showed that retail sales increased 9.6 percent annually in January, slower than a 11.9 percent rise in December.

On a monthly basis, retail sales decreased 0.8 percent in January, after a 1.1 percent increase in the prior month.

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