Turkish economy sees total turnover rise 21 pct in Dec

The Turkish economy's total turnover saw an annual rise of 21 percent in December 2019, according to a report released by the country's statistical authority on Feb. 13

The turnover index saw the biggest rise in the trade sector, up 26.9 percent on a yearly basis, said the Turkish Statistical Institute (TÜİK).

The services sector also registered a year-on-year rise of 22.3 percent as did industry with 16.8 percent and construction 8.1 percent.

On a monthly basis, the seasonally and calendar-adjusted total turnover index rose by 4 percent in December.

According to the institute, turnover is an important short-term indicator used to assess the country's economic situation.

"Turnover Indices are calculated to follow the changes of this concept which is composed of sales of goods and services invoiced by the enterprise in the reference month over time, to monitor the development on a quarterly and yearly basis," it said.

All enterprises that declare their value-added tax to the country's Revenue Administration are included in the turnover index calculation.

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