Turkey Industrial Production Declines 5.3%

(RTTNews) - Turkey's industrial production declined for the third straight month in August, the Turkish Statistical Institute reported Thursday.

Industrial production posted an annual decline of 5.3 percent in August, which was worse than the 4.0 percent fall in July.

There was a 5.4 percent decrease each in output produced in the manufacturing and mining sectors. On the other hand, production of electricity, gas, steam, and air conditioning supplies registered an increase of 1.6 percent.

Month-on-month, industrial production fell 1.6 after a 0.3 percent rebound in July.

Another piece of data from the statistical office showed that the unemployment rate dropped to 8.5 percent in August from 8.8 percent in July.

The number of unemployed decreased to 3.055 million in August from 3.144 million a month ago.