Update: Turkey Mın: Industrıal Output Up In Lıne Wıth Forecast
Turkish IndustryTrade Minister Nihat Ergun said Monday the rise in industrial production in March was in line with the country's expectations.
Turkish industrial production grew in line with expectations in March, rising 21.1% in annual terms, data from the national statistics institute TUIK showed early Monday.
Economists had expected industrial production to increase by 21.0% in March.
Speaking to local broadcaster CNBC-E, Ergun said Turkey expects a rising trend in production to continue in AprilMay.
Ergun said Turkey isn't on the point of revising its economic growth targets yet, although after some time has passed the government may consider a revision.
Last month, Turkish Economy Minister Ali Babacan said his government is likely to revise its forecast for 2010 economic growth higher in June, from the current prediction of a 3.5% expansion.
Ergun also said he expects double-digit economic growth in the first quarter of 2010.
According to the latest data, Turkey's gross domestic product rose 6% on the year in the fourth quarter, after a 2.9% contraction in the third quarter. In the second quarter, GDP declined 7.7%in the first quarter the contraction was 14.5%.
(YC-YC-E-ENG)
