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Industrial production increased by %4.5 y-o-y

Industrial production increased by %1.9 in January compared to the previous month, exceeding expectations. The Turkish Statistical Institute (TUIK) reported in its bulletin on the data that %38 of the surveys conducted in the provinces in the earthquake region received answers.

Industrial production increased by %4.5 y-o-y
The Turkish Statistical Institute (TUIK) announced the Industrial Production data for January 2023.
Accordingly, industrial production increased by %1.9 monthly and %4.5 annually in January.
When the sub-sectors of industry are examined, in January 2023, the mining and quarrying sector index decreased by 7.6 percent compared to the same month of the previous year, the manufacturing industry sector index increased by 5.8 percent and the electricity, gas, steam and air conditioning production and distribution sector index decreased by 5.7 percent.
When the sub-sectors of industry are examined, in January 2023, the mining and quarrying sector index increased by 4.4 percent compared to the previous month, the manufacturing industry sector index increased by 2.1 percent and the electricity, gas, steam and air conditioning production and distribution sector index increased by 1.4 percent.
'38% RESPONSE COULD BE OBTAINED FROM THE PROVINCES AFFECTED BY THE EARTHQUAKE'
In the statement made by TUIK, it was stated that the data obtained from the Monthly Industrial Production Survey and Value Added Tax (VAT) declarations were used in the calculation of the Industrial Production Index and that force majeure was declared in the provinces affected by the Kahramanmaraş-based earthquakes, declarations were postponed, and 38 percent of the responses could be obtained from the surveys compiled from these provinces.
The statement continued:
"Therefore, in the calculations for January 2023, estimates were made using alternative data sources such as e-invoice, e-archive invoice data and statistical methods for incomplete observations. The share of the size estimated by these methods in the total is 5.01 percent."

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