Turkey’s unadjusted industrial production index was forecasted to rise by 2.8% for March, economists said on Tuesday.

Eleven experts surveyed by Anadolu Agency projected an increase compared to the same month of 2019.

The unadjusted industrial production index in March’s survey ranged between 0.5% and 5.5% with an average increase of 2.8%.

Meanwhile, for March, they estimated that the calendar-adjusted industrial production index would increase by 2.3% on an annual basis.

In February 2020, the unadjusted and adjusted industrial production indices were up 10.5% and 7.5%, respectively, year-on-year.

The term “calendar-adjusted” is used to refer to data where calendar and holiday-originated effects are removed.

The Turkish Statistical Institute is due to release official inflation figures next Thursday.

* Writing by Gokhan Ergocun

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