0603 GMT February 24, 2020
A Reuters poll for the calendar-adjusted index had forecast that output would increase 7.0% annually in December, Reuters.com reported.
Month-on-month, industrial production was up 1.9% in December on a calendar and seasonally adjusted basis, the Turkish Statistical Institute said.
Turkey’s economy contracted on an annual basis in the three quarters to mid-2019, before growing by 0.9% in the third quarter. The Treasury minister predicts a surge to 5% in the fourth quarter.
Industrial production, viewed as a pre-cursor to growth figures, has expanded since September after contracting annually for 12 straight months.
The government’s economic forecast envisages economic growth of 0.5% in 2019 and 5% in 2020.