Turkiye: Service Production Index Rises 2.3% Annually, Drops 2.2% Monthly in April

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

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