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POLL-Turkish industrial production seen contracting 2.5% in April

Credit: REUTERS/UMIT BEKTAS

Turkey's industrial production output is expected to register a 2.5% annual contraction in April, a Reuters poll showed on Friday, as the economy struggles to leave behind the damage of last year's currency crisis.

By Ali Kucukgocmen

ISTANBUL, June 14 (Reuters) - Turkey's industrial production output is expected to register a 2.5% annual contraction in April, a Reuters poll showed on Friday, as the economy struggles to leave behind the damage of last year's currency crisis.

The economy contracted 2.6% in first quarter after a 3% drop in the last quarter of 2018 and economic activity has remained slow since, with the central bank's policy rate standing at 24% since September.

The median estimate in a Reuters poll of 7 economists showed a year-on-year contraction of 2.5% of the calendar-adjusted industrial production index. Forecasts ranged between a contraction of 1.90% and 4.40%.

Seen as a precursor to growth figures, industrial production contracted 2.2% year-on-year in March, for seven consecutive months of decline, official data showed. On a monthly basis, it expanded 2.1%.

The Turkish Statistical Institute will announce the industrial production figures for April on June 18 at 0700 GMT.

(Additional reporting by Behiye Selin Taner; Writing by Ezgi Erkoyun; Editing by Jonathan Spicer)

((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))

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