Turkish factory activity expanded 8.3% in Oct

A worker checks cable drums at a factory in the central Anatolian city of Kayseri February 12, 2015. REUTERS/Umit Bektas

ISTANBUL, Dec 10 (Reuters) – Turkey’s industrial production is expected to have expanded 8.3% annually in October, rising for a 16th consecutive month in a sustained burst of economic activity since the lifting of coronavirus measures, a Reuters poll showed on Friday.

Output plummeted more than 31% in April 2020 as many factories temporarily halted operations in the initial coronavirus wave. After a strong economic rebound in the second half of 2020, new virus-related curfews were adopted earlier this year but did not affect production.

The median estimate in a Reuters poll of six institutions showed year-on-year growth of 8.3% in the calendar-adjusted industrial production index in October.

Forecasts ranged between 6.8% and 10.4%.

Turkey imposed curfews, weekend lockdowns and restaurant closures, including a tougher but brief lockdown in April and May due to surging COVID-19 cases, but manufacturing and the broader economy were largely unaffected. All measures were lifted in July.

Turkey’s economy is expected to grow around 10% this year, rebounding powerfully after a sharp slowdown a year earlier driven by COVID-19 restrictions.

The Turkish Statistical Institute will announce October industrial production figures on Dec. 13 at 0700 GMT.

Writing by Ezgi Erkoyun
Editing by Daren Butler

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