Turkish industrial output rises 12%, beating estimates

Turkey’s industrial output rose an annual 12 percent in January, almost double economists’ expectations.

Output climbed as mining and quarrying production surged 23 percent and manufacturing output climbed 12.3 percent, the state statistics agency said on Friday. Overall output was expected to increase 6.7 percent.

Month-on-month production dropped 0.8 percent from December, partly reversing December’s 2.2 percent rise. Economists had expected it to contract 1.2 percent.

Turkey is seeking to boost economic growth by providing loan guarantees and tax incentives to producers, raising concern that the economy is overheating. Economic growth exceeded 11 percent year-on year in the third quarter, though slowed on a quarterly basis.

Turkish growth has confounded economists' expectations and the government has pledged further incentives for companies and consumers this year. 

Turkish industrial production
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