ISTANBUL

Türkiye's industrial production posted a slight decline of 0.2% in May on an annual basis, while it was up by 1.1% on a monthly basis.

According to official figures from TurkStat, the country's statistical authority, two out of three subsectors declined on a yearly basis.

"Mining and quarrying index decreased by 7.1%, manufacturing index increased by 0.6% and electricity, gas, steam and air conditioning supply index decreased by 1.3% in May 2023," it noted.

The production of low- and medium-technology declined in the month while medium-high and high-technology increased.

On a monthly basis, all subsectors saw increases – mining and quarrying by 2.4%, manufacturing by 0.9% and electricity, gas, steam and air conditioning supply by 2.4%.