The capacity utilisation rate (CUR) in Turkish manufacturing industry dropped to 75.6% in November from 76.4% in October, its highest level this year.
Despite a drop in November from its October level, the CUR still remained above the y-t-d average of 74.5%. But, the business confidence index, also compiled and released by the Central Bank on Monday, fell for a second consecutive month in November. The decline in CUR and business confidence, if taken together, may be a sign that the pace of economic activity may lose momentum in the period ahead.
The seasonally-adjusted CUR also fell to 74.9% in November from 75.7% in the previous month.
Data show that the capacity utilisation rate in the durable consumer goods industry retreated to 73% from 73.7% in October while the CUR in the consumer goods manufacturing sector dropped to 73.8% from 74.8%.
The capital goods industry’s CUR fell to 74.9% from 75.6% and the CUR in intermediate goods manufacturing sector dropped to 77.3% from 78.1%. The food & drinks sector used 73.4% of its capacity in November, slightly down from 73.9% in the previous month.
Turkish President Recep Tayyip Erdogan has warned the Iraqi Kurds that it is in their interests to call off their planned September 25 independence referendum because it “may lead to a process that ... more
Addressing the UN General Assembly, Armenian President Serzh Sarkisian on September 19 warned that Yerevan may be set to declare two protocols aimed at normalising relations with Turkey "null and ... more
Russia’s Rosneft is exploring the possibility of building a 30bn cubic metre (bcm) pipeline that would from 2020 deliver natural gas supplies from the Iraqi Kurdistan region to Turkey and ... more