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Turkey Industrial Production, Retail Sales Growth Slows

Turkey's industrial production and retail sales increased at a softer pace in May, data from Turkstat showed on Tuesday.

Industrial production increased 40.7 percent annually in May, after a 66.3 percent rise in April.

Among the sub-sectors, mining and quarrying output increased 33.4 percent annually in May and manufacturing output grew 42.8 percent. Electricity, gas, steam output rose 20.9 percent.

On a month-on-month basis, industrial production rose 1.3 percent in May, after a 0.8 percent fall in the prior month.

Another report from the statistical office showed that retail sales increased 27.0 percent yearly in May, after a 42.5 percent gain in April.

Sales of non-food sales increased 39.0 percent annually in May and automotive fuel sales grew 28.5 percent. Sales of food, drinks and tobacco declined 10.6 percent.

On a monthly basis, retail sales fell 6.1 percent in May, following a 5.8 percent drop in the preceding month.

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