ISTANBUL, July 8 (Reuters) - Turkey's industrial output rose 15.6 percent year-on-year in May, the statistics institute said on Thursday, underscoring expectations for robust economic growth this year.
Industrial production grew 1.9 percent month-on-month, when adjusted for seasonal factors.
Industry output, a key element in Turkey's economic activity, was seen rising 15 percent in a Reuters poll.
Turkey's economy grew by 11.7 percent year-on-year in the first quarter, partly on the back of a low base effect after a 14.3 percent contraction in the same period in 2009.
The government has predicted growth of between 6 and 8 percent in the second quarter.
'The industrial output growth was strong in May,' BGC Partners' chief economist Ozgur Altug said.
'But we expect to see a deceleration in industrial production growth starting from June on the back of a less favourable base and the cooling off of the economy,' he said.
Inflation has slowed in recent months taking pressure off the central bank to raise interest rates sooner.
(Writing by Thomas Grove, editing by Mike Peacock) Keywords: TURKEY OUTPUT/ (thomas.grove@reuters.com; Telephone: +90 212 350 7051; Reuters Messaging: thomas.grove.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Industrial production grew 1.9 percent month-on-month, when adjusted for seasonal factors.
Industry output, a key element in Turkey's economic activity, was seen rising 15 percent in a Reuters poll.
Turkey's economy grew by 11.7 percent year-on-year in the first quarter, partly on the back of a low base effect after a 14.3 percent contraction in the same period in 2009.
The government has predicted growth of between 6 and 8 percent in the second quarter.
'The industrial output growth was strong in May,' BGC Partners' chief economist Ozgur Altug said.
'But we expect to see a deceleration in industrial production growth starting from June on the back of a less favourable base and the cooling off of the economy,' he said.
Inflation has slowed in recent months taking pressure off the central bank to raise interest rates sooner.
(Writing by Thomas Grove, editing by Mike Peacock) Keywords: TURKEY OUTPUT/ (thomas.grove@reuters.com; Telephone: +90 212 350 7051; Reuters Messaging: thomas.grove.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.