Turkey's industrial production increases in May

Turkey's industrial production index has increased by 5.9 percent in May, compared to the same month of last year. According to index figures for May 2012 which were released by the Turkish Institute of Statistics (TUIK), the calendar adjusted production index in May 2012 increased by 5.9 percent compared to May 2011, and seasonal and calendar adjusted industrial production index rose 1.1 percent compared to the previous month. As for the sub sectors of industry, the manufacturing sector index increased by 5.8 percent, electricity, gas, steam and air conditioning supply index increased by 7.3 percent. Touching upon these figures, Economy Minister Zafer Caglayan said, "The export is the locomotive of industrial production, as well as employment. The economy will continue to grow thanks to net exports in the second quarter, just like it happened in the first quarter."