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Turkey Industrial Production, Retail Sales Rise In July

Turkish industrial production and retail sales grew in July, data from Turkstat showed on Monday.

Industrial production rose 4.4 percent year-on-year in July, following a 0.4 percent rise in June. Economists had expected a 3.0 percent rise.

Manufacturing output grew 5.1 percent annually in July.

Production in mining and quarrying declined 4.9 percent, while output in the electricity, gas, steam increased 1.4 percent.

On a monthly basis, industrial production rose 8.4 percent in July, after a 17.8 percent growth in the previous month.

Separate data from Turkstat showed that retail sales gained 11.9 percent yearly in July, following a 0.4 percent rise in June.

Non-food sales increased 13.9 percent and sales of food, drinks and tobacco grew 12.3 percent. Automotive fuel sales rose 7.2 percent.

On a monthly basis, retail sales rose 9.5 percent in July, after a 18.0 percent increase in the previous month.

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