ISTANBUL (Reuters) - Turkey's industrial production output is expected to have expanded 6.2% annually in October, growing for a second month in a row, as the economy shows signs of recovery after last year's currency crisis.
Turkey's economy grew 0.9% in the third quarter, breaking three consecutive quarters of year-on-year contraction following a pickup in demand and a fall in inflation which gave the central bank room to slash rates by 1,000 points since July.
The median estimate in a Reuters poll of six economists showed a year-on-year expansion of 6.2% of the calendar-adjusted industrial production index. Forecasts ranged between an expansion of 4.7% and 6.9%.
Turkish industrial production, viewed as a pre-cursor to growth figures, expanded 3.4% year-on-year in September.
The government's economic forecast envisages growth at 0.5% this year and 5% in 2020. Finance Minister Berat Albayrak said that leading indicators for the fourth quarter showed growth momentum was continuing to increase.
The Turkish Statistical Institute will announce industrial production figures for October on Dec. 13 at 0700 GMT.