Industrial production exceeded expectations in May!

The industrial production index increased by 0.5 percent month on month and 9.1 percent year-on-year in May.

The median estimate of economists surveyed by Bloomberg was that industrial output rose 8 percent annually, contracting 0.3 percent monthly.

When the sub-sectors of the industry are analyzed, while the mining and quarrying sector index decreased by 5.7 percent compared to the same month of the previous year, the manufacturing industry index increased by 10.7 percent and the electricity, gas, steam and air conditioning production and distribution sector index increased by 0.3 percent. .

Industrial production increased 0.5 percent monthly

When the sub-sectors of the industry are analyzed, in May 2022, the mining and quarrying sector index decreased by 3 percent compared to the previous month, the manufacturing industry index increased by 0.8 percent and the electricity, gas, steam and air conditioning production and distribution sector index decreased by 0.3 percent.

Industrial production had increased by 10.8 percent year-on-year in the previous month.