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July’s Coup Attempt Still Weighing on Turkey Industrial Output

  • Output unexpectedly falls 3.1% in September on durable goods
  • Excluding July, September annualized decline worst since 2009

Turkey’s industrial output unexpectedly shrank in September, providing more evidence that the economy has yet to overcome the fallout from an attempted coup earlier this year.

Output adjusted for working days shrank 3.1 percent from a year earlier, the state statistics institute said on Tuesday, the biggest drop in six years excluding July -- the month of the failed putsch. The median estimate in a Bloomberg survey was a 2.5 percent expansion.