Turkey to post $2.3B current account deficit: Survey

ISTANBUL

Turkey’s current account balance is expected to see a deficit of $2.27 billion in February, according to an Anadolu Agency survey on Thursday.

The Turkish Central Bank is set to announce the country's current account balance for February next Monday.

The forecast of a group of 13 economists range between $1.7 billion and $2.7 billion. The economists' end-year expectation is a $26.9 billion deficit, ranging between $23 billion and $38.5 billion.

Turkey's current account balance in January was $1.86 billion, while 12-month deficit was $36.6 billion.

Industrial production

According to another survey by Anadolu Agency on Thursday, Turkey's calendar-adjusted industrial production index for February is expected to increase by 9.04% on an annual basis.

The estimates of a group of 10 economists ranged between 5.7% and 12.42%.

The term "calendar-adjusted" is used to refer to data without calendar and holiday-originated effects.

Additionally, the economists estimated that the unadjusted industrial production index for February would increase by 7.21% year-on-year.

In January, the adjusted and unadjusted industrial production indices were up 11.4% and 7.5%, respectively.

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