Turkish industrial output slides 4 percent in April

  • News Digest

Jun 20, 2019-

ISTANBUL: Turkish industrial production fell a greater-than-expected 4.0 percent year-on-year in April, the Turkish Statistical Institute said on Tuesday, reflecting the impact of renewed lira weakness as the index declined for an eighth consecutive month. Industrial production, regarded as a signal of growth data, declined in the wake of last year’s currency crisis, which caused the economy to contract annually in the last two quarters. In a Reuters poll, the calendar-adjusted industrial output figure was forecast to fall 2.5 percent year-on-year. Month-on-month, industrial production was down 1.0 percent in April on a calendar and seasonally adjusted basis, the institute said. Despite some signs of recovery in previous months, industrial output was hit by another bout of lira weakness in late March and April. (REUTERS)

Published: 20-06-2019 10:15

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