Turkey's industrial output down 31.4% y-o-y in April

# 13:13
12 June 2020

Turkey's industrial production saw a decline of 31.4% year-on-year in April 2020, the country's statistical authority said on Friday, APA reports citing Anadolu Agency.

Turkish Statistical Institute (TurkStat) revealed that all three main sub-indices -- mining and quarrying, manufacturing, and the electricity, gas, steam and air conditioning -- dropped 14.5%, 33.3% and 14.9%, respectively, in April.

Industrial production is considered a vital indicator for the economy as it is seen as a preliminary gauge for the GDP growth.

Meanwhile, the figure, on a monthly basis, was also down 30.4% in April.

On Wednesday, a total of nine experts surveyed by Anadolu Agency projected the index to see a 25.4% decrease in April.

In the first quarter of this year, several sectors, especially manufacturing, were affected by the measures against the COVID-19 pandemic, such as curfews.