2020.04.1307:59:00UTC+00Turkey Industrial Production Growth Slows, Retail Sales Rise

Turkey's industrial production grew at a softer pace in February and retail sales increased data from the Turkish Statistical Institute showed on Monday.

Industrial production rose a calendar adjusted 7.5 percent year-on-year in February, after a 7.7 percent increase in January. Economists had expected a 7.5 percent rise.

Manufacturing output grew 8.0 percent annually in February.

Among other main sectors electricity, gas, steam rose 4.4 percent and, mining and quarrying gained 1.7 percent.

Production of intermediate goods, non-durable consumer goods, capital goods and energy increased, while durable consumer goods decreased in February.

On a month-on-month basis, industrial production rose 1.2 percent in February, after a 0.4 percent fell in the preceding month.

A separate report showed that retail sales increased 10.6 percent annually in February, slower than a 9.4 percent rise in January.

On a monthly basis, retail sales increased 1.4 percent in February, after a 0.9 percent decrease in the prior month.