Total turnover in Turkish economy jumps in October

ANKARA

The Turkish economy's total turnover soared 47.5% in October compared to the same month last year, the Turkish Statistical Institute (TurkStat) announced Monday.

This was led by rises in the industry, construction, trade, and services sectors, the TurkStat said in a statement.

The turnover for the services sector registered the largest increase this October, up 59.4% year-on-year.

It was followed by industry with a 52.8% hike in the same period, trade 42.1%, and construction 37.6%.

Monthly comparison

On a monthly basis, the seasonal- and calendar-adjusted total turnover index went up 6.4% in October.

Industry increased 7.5%, trade 6.4%, services 4.8% and construction 3.7% month-on-month in October, it said.

According to TurkStat, turnover is an important short-term indicator used to assess the country's economic situation.