Turkish manufacturing sector sees slight drop in capacity utilization rate in May
Date
5/28/2024 4:18:17 AM
(MENAFN) According to a survey conducted by the Turkish Central bank and released on Monday, the capacity utilization rate for the Turkish manufacturing industry experienced a marginal decline of 0.4 percentage points in May compared to April, settling at 76.6 percent.
The survey findings revealed that within various sectors of the manufacturing industry, the highest utilization rate was observed in investment goods, reaching 76.6 percent. Conversely, the lowest rate was recorded in non-durable consumer goods, standing at 73.5 percent.
When examined by specific sectors, the manufacture of paper products demonstrated the highest capacity usage at 83.5 percent. In contrast, the utilization rate was notably lower in the production of leather products, registering at 64.8 percent.
It's important to note that these capacity utilization rate figures are derived from responses to a business tendency survey conducted among local units operating within the manufacturing sector. This survey serves as a key indicator of industry performance and trends.
The Turkish Central Bank reported that a total of 1,777 companies participated in the survey for the current month. Additionally, it emphasized that the data provided in the survey does not necessarily reflect the views or predictions of the central bank, but rather offers valuable insights into the current state of the manufacturing industry in Turkey.
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