Carmakers lead estimate-beating rise in Turkey industrial output
By Bloomberg
Turkish industrial production rose more than forecast in March, boosted by a surge in output by car manufacturers.
Industrial output adjusted for calendar effects rose 4.7 percent, compared with the median estimate in a Bloomberg survey that predicted a 0.9 percent expansion. Output adjusted for both calendar and seasonal impacts increased 2.2 percent from February, Turkey’s state statistics institute said in a statement posted on its website on Friday.
Manufacturing output rose an annual 5 percent and was led by a 21.8 percent increase in production of motor vehicles, according to official data. Output of capital goods rose 15.6 percent while non-durable consumer goods’ production expanded 7.2 percent.
The lira was trading 0.1 percent lower at 2.6878 per dollar at 10:16 a.m. after the report.
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