Adds graphic, lira, background
ISTANBUL, Jan 14 (Reuters) - Turkish industrial production picked up pace in November, growing 5.1% year-on-year in a third consecutive month of expansion, official data showed on Tuesday, as the economy recovers from recession.
Month-on-month, industrial production was up 0.7% in November on a calendar and seasonally adjusted basis, the Turkish Statistical Institute said.
The Turkish economy expanded 0.9% in the third quarter after three quarters of year-on-year contraction following a 2018 currency crisis. The lira has lost some 36% of its value in the last two years.
The lira TRYTOM=D3 stood at 5.8820 against the dollar after Tuesday's data, unchanged from its level beforehand and weaker than a close of 5.8625 on Monday.
Last month, Turkey's central bank cut its policy rate by 200 basis points to 12%, down from the 24% at which it stood in July before the bank began cutting sharply to revive the economy.
According to a Reuters poll, eight economists expect it to keep its policy rate steady at Thursday's policy meeting. Six predict a 100 basis point cut to 11% and seven others also expected a rate cut of some sort.
Turkey's output continues expansion in Novemberhttps://tmsnrt.rs/32NfGfN
(Reporting by Nevzat Devranoglu and Ezgi Erkoyun; Writing by Daren Butler; Editing by Dominic Evans)
((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging: daren.butler.thomsonreuters.com@reuters.net))
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Turkish industrial output gains momentum in November - Nasdaq
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