Turkey’s industrial production increased 17.4% in May compared to the previous month, along with normalization from the coronavirus outbreak. The manufacturing index also posted on 19.3%, the highest rise of all the index, compared month-to-month with the previous month. Electricity, gas, air conditioning supply and steam index increased by 4.9% while mining and quarrying index also up by 4.5%, all compared month-to-month.
On the other hand, Turkish Statistical Institute Industrial Production Index May 2020 shows PMI for industrial production in May dropped by 19.9% year-on-year, also all the subsectors of the industry saw inclined compared year-on-year. Industrial production in April is lower by 31% year-on-year.
The manufacturing index declining the most with 20.6% year-on-year in May, the second is mining and quarrying index with 14.2%, and electricity, steam, gas and air conditioning supply index with 13.3% decreases year-on-year.
Turkey’s soften the blow of the pandemic-induced crisis by flooding the economy with state-bank cheap loans and company debts restructuration. President Erdogan said early this month that the measure is expected to lead a strong economic rebound in the second half of 2020.
