Turkish Industrial Production Rose 8.8% in February, YoY

Data showed that industrial production rose 8.8% on an annual basis in February, which is in line with expectations and indicates its growth for the ninth month in a row after it was affected last year as a result of measures to contain the Coronavirus pandemic.

The Turkish Statistics Institute said industrial production, adjusted for calendar and seasonal factors, rose on a monthly basis by 0.1% in February. A Reuters poll predicted annual growth of 8.9%.

Many Turkish factories stopped operations a year ago, shortly after the first case of COVID-19 was recorded. Output fell 31.4% in April and 19.9% in May, before the recovery begins in June.