Turkey's industrial output down 5.7 pct in Oct.

By Gokhan

ISTANBUL

Turkey's industrial output dropped by 5.7 percent year-on-year in October, the country's statistical authority said on Monday.

Calendar adjusted industrial production index decreased to 116.3 in October, down from 123.2 in the same month last year, according to TurkStat.

In October, the mining and quarrying index rose by 6.1 percent on a yearly basis, while the manufacturing and the electricity, gas, steam and air conditioning supply indices were down 6.5 percent and 1.2 percent, respectively.

In the mining and quarrying sector, mining of metal ores index recorded the biggest rise with an 18.3-percent increase, while the other mining and quarrying sector index saw a decline with 2.2 percent.

On the manufacturing side, the other transport equipment saw an annual hike of 20.2 percent while the index of the manufacturing of wood and of products dropped by 20.4 percent, it was also the highest annual decrease among all sub-sectors.

In the country's overall industrial output, the production of durable consumer goods rose by 3-percent year-on-year, while the production of all other products fell in October.

The annual declines were 4.8 percent in intermediate goods, 6.7 percent in capital goods, 3 percent in non-durable goods, and 0.1 percent in energy.

On a monthly basis, the country's total industrial output also declined by 1.9 percent in October compared to September. The seasonally and calendar adjusted industrial production index was 111 in October, as it was 113.2 in September.

According to TurkStat, the purpose of calculating monthly industrial production index is to measure the evolution of the economy and the positive and negative effects of economical political decisions in the short term.

TurkStat will release the next industrial production figures on Jan. 14, 2019.