Transportation, Accommodation, and Information Services Drive Annual Growth Amid Monthly Declines
The Turkish Statistical Institute (TÜİK) has released its April data for the Service Production Index, revealing a 2.3% increase year-over-year, while experiencing a 2.2% decline compared to the previous month.
According to the data, the index demonstrated a significant annual growth of 2.3% in April compared to the same month last year.
Sector-Specific Annual Performance
- Transportation and Storage Services: Increased by 2.7%
- Accommodation and Food Services: Surged by 10.4%
- Information and Communication Services: Rose by 1%
- Administrative and Support Services: Increased by 3.8%
Conversely, some sectors saw declines:
- Real Estate Services: Fell by 1.3%
- Professional, Scientific, and Technical Services: Decreased by 6.8%
Monthly Performance Overview
The Service Production Index recorded a 2.2% decline from the previous month.
Examining monthly data by subsectors:
- Transportation and Storage Services: Down by 2.1%
- Information and Communication Services: Dropped by 5.7%
- Real Estate Services: Fell sharply by 9.6%
- Professional, Scientific, and Technical Services: Decreased by 5.5%
- Administrative and Support Services: Slightly down by 1.7%
However, there was a notable increase in:
- Accommodation and Food Services: Up by 3.2%
These figures indicate a mixed performance across various service sectors, highlighting robust annual growth in some areas despite overall monthly declines.
Source: AA / Prepared by Irem Yildiz