ANKARA: Turkish calendar-adjusted industrial production fell 3.9pc year-on-year in June, the Turkish Statistical Institute said on Friday, logging its tenth consecutive month of decline
Considered a pre-cursor to growth data, industrial output began to decline in the wake of last year's currency crisis which tipped the economy into recession.
In a Reuters poll, the calendar-adjusted industrial output figure was forecast to fall 1.01pc year-on-year. Month-on-month, industrial production was down 3.7pc in June on a calendar and seasonally adjusted basis, the statistical institute said.
The manufacturing industry index fell 4.2pc month-on-month, while the mining and quarry sector index rose 2.4pc.
Turkey's economy contracted in the fourth quarter of 2018 and the first quarter this year as the lira crisis and high interest rates weighed on the major emerging market.
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