Turkey: Total economic turnover surges in February

ANKARA

The total turnover of Turkey's economy jumped 22.2% year-on-year in February, the Turkish Statistical Institute (TurkStat) announced Monday.

The total turnover index for the industry rose 17.1%, construction 8.3%, trade 28.2% and services 19.8% on annual basis in February 2020, according to TurkStat data.

Meanwhile, the total turnover rose 1.6% on monthly basis.

The total turnover index in construction enjoyed the highest rise, up 9.2%, in February.

TurkStat said the turnover indices in the services and industry increased 1.2% and 0.1%, respectively.

The index value in trade saw a 1.8% rise on monthly basis in February.

The data also showed that Turkey's seasonally and calendar adjusted total turnover index -- monthly change -- improved 2.9%.

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

Turnover indices are calculated to follow the change in the concept, made up 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.