Total turnover in Turkish economy improves in Sept

ANKARA

The total turnover of Turkish economy surged 4.8% year-on-year in September this year, the Turkish Statistical Institute (TurkStat) reported Friday.

Annual rises in turnover indices of trade and construction offset the decreases in construction and industry sectors.

TurkStat said the calendar-adjusted turnover indices in trade and services surged by 11.8% and 7.7%, respectively.

The index value in construction slipped 16.1% on a yearly basis in September.

Calendar adjusted turnover index in industry fell 1.7% this September compared with the same month last year.

Data also showed that Turkey's seasonally and calendar adjusted total turnover index -- monthly change -- ticked up 2.8%.

Turnover is an important short-term indicator used to assess the country's economic situation, according to TurkStat's definition.

Turnover indices are calculated to follow the changes of this concept, which is composed of the sales of goods and services invoiced by the enterprise in the reference month over time, to monitor developments on a quarterly and yearly basis.