Turkish industrial output rises at slowest pace in 18 months

Industrial production in Turkey grew at the slowest annual pace since July 2020, the Turkish Statistical Institute said.

Output increased by 7.6 percent in January from the same month of 2021, the institute said on Friday.

On a month-on-month basis, production shrunk by 2.4 percent compared with December. That was the first contraction since September, when monthly output fell by 2.6 percent.

In a separate statement, the institute said retail sales grew by an annual 7.9 percent in January. That was almost half the 13 percent growth rate observed in December. Sales declined by a monthly 1.5 percent. They contracted by 2.2 percent in December.

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