Turkey’s January industrial output predicted to rise

By Ergin Garip

ISTANBUL (AA) - Turkey's calendar-adjusted industrial production index for January is expected to rise by 7.9% year-on-year, according to a survey on Tuesday.

The estimates of a group of nine economists surveyed by Anadolu Agency ranged between 3% and 10.8% for the month.

The term "calendar-adjusted" is used to refer to data without calendar and holiday-originated effects.

The economists also projected that the unadjusted industrial production index for January would rise by 8.2% compared to the same month of last year.

In December 2020, the unadjusted and adjusted industrial production indices posted annual rises of 12.1% and 9%, respectively, December reading was up 1.3% from a month ago.

The Turkish Statistical Institute is due to release official figures on Friday.

The country's industrial output dipped in April 2020, falling over 31% year-on-year as the month saw widespread implementation of COVID-19 containment measures. It started to recover last June, fueled by post-pandemic normalization measures.

The figure was on positive territory for seven consecutive months last year.

* Tuba Sahin contributed to this story from Ankara