Turkey's industrial production recorded growth in November for the first time in half a year, primarily driven by robust gains in the utility sector, according to a report released by the Turkish Statistical Institute.
Annually, industrial production experienced a decline of 1.5% in November, marking a positive shift from the 3.1% decrease observed in October. Within the sectors, there was a notable 11.1% year-over-year increase in the production of electricity, gas, steam, and air conditioning supplies. The manufacturing sector also saw a rise in output by 1.2%. However, there was a significant 6.6% contraction in the mining and quarrying sector.
On a month-to-month basis, industrial production increased by 2.9% in November, reversing the previous month's 0.9% decline.
In parallel, official statistics indicated a slight improvement in Turkey's unemployment rate, which edged down to 8.6% in November, compared to 8.7% in the preceding month. The total number of unemployed individuals decreased from 3.156 million in the previous month to 3.072 million in November.
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