Friday, a report by the Turkish Statistical Institute said industrial output dropped 20.9% year-on-year in March, slower than a 23.7% fall in February. Economists expected output to decline 22.8%.

On an annual basis, mining output fell 9.7%, while manufacturing output slipped 23.5%. Utilities output was down 3.3% in March.

Month-on-month, industrial production increased 13.4% in March.

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