Turkey: Total economic turnover surges in January

ANKARA

The total turnover of Turkey's economy jumped 20.5% year-on-year in January, the Turkish Statistical Institute (TurkStat) announced Friday.

Significant annual rises in the turnover indices in the industry, trade, and service sectors offset a fall in the construction sector, according to TurkStat data.

The total turnover index in trade enjoyed the highest rise, up 27% during the same period.

TurkStat said the turnover indices in services and industry climbed 20.8% and 20.1%, respectively.

The index value in construction fell 17.9% in January from the same month last year.

The data also showed that Turkey's seasonally and calendar adjusted total turnover index – monthly change – improved 0.8%.

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.