The manufacturing capacity utilisation rate (CUR) rose to 76.4% in October from 75.4% in September, the Central Bank on Friday. The CUR was 74.9% in October 2012.
The seasonally-adjusted CUR edged up to 75.8% from 75% in the previous month.
The CUR in the durable goods industry advanced slightly to 73.7% in October from 73.1% in September while the consumer good sector’s CUR rose to 74.8% from 72.7%.
The capital goods industry’s CUR rose slightly to 75.6% from 75.2% and the CUR in intermediate goods manufacturing sector increased to 78.1% from 77.6%. The Central Bank also reported that the food & drinks sector’s capacity usage rate rose to 73.9% from 70.7%.
With the October data, the average CUR came to 74.4% in the first nine months of the year, slightly higher than the average CUR of 74.2% in January-October 2012.
Turkey’s manufacturing industry expanded 3.4% y/y in Q2, up from 1.6% y/y in Q1, GDP data showed.
The headline Turkey manufacturing PMI rose further in September and production rose at its fastest pace since the beginning of the year. The headline PMI registered 54.0 in September, up from 50.9 in August. October PMI data will be released on November 1.
Turkey is at risk of becoming a “disease-prone desert” with water resources and forests disappearing, Hurriyet Daily News reported Professor Mikdat Kadioglu from Istanbul Technical University’s ... more
The strongly positive initial reaction given by markets to April 18’s surprise announcement of snap elections in ... more
The chronic weakness of the Turkish lira (TRY) is credit negative for Turkey’s sovereign debt rating and poses ... more