Turkey's industrial production falls significantly


Turkish industrial output fell 5.1 percent in February, posting a six-month decline in February, official data showed.

The Turkish economy contracted 3% year-on-year in the last quarter of 2018, its worst performance in nearly ten years.

Economists expect another two quarters of deflation on an annualized basis. Data show that economic activity is still very weak.

In a Reuters poll, industrial output is expected to fall 6.5% in February but fell below expectations and fell 5.1%.

Earlier, official data showed that the unemployment rate in Turkey reached 14.7% in January, increasing 3.9% year-on-year. "The level of the unemployment rate is the highest since 2009," he told Reuters.


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