Date of news : 2023-07-13 05:35:40
The Turkish economy's overall income grew by 2.9% monthly in May.
According to official numbers released on Thursday by the Turkish Statistical Institute (TurkStat), the Turkish economy's overall income grew by 2.9% month on month in May. This gain follows a 3.8% increase in April, demonstrating that the country's economic performance is improving.
The services sector experienced the most significant monthly surge, with a 4.7% increase in May, followed by the construction sector at 3.5%. The trade and industry sectors also saw growth, with turnover edging up by 3.2% and 1%, respectively.
Compared to the previous year, the total turnover index exhibited an impressive 52.7% increase in May. On an annual basis, the industry sector grew by 34.9%, construction soared by 102.8%, trade rose by 58.8%, and services recorded a substantial growth of 62.3%.
These figures indicate the resilience and positive trajectory of the Turkish economy, reflecting the recovery and expansion across various sectors. The steady increase in total turnover demonstrates the country's efforts to drive economic growth and highlights the potential for further development in the coming months.
Source: Turkish Statistical Institute (TurkStat)