Tuesday, 02 January 2024 12:17 GMT

Capacity utilization rate for Turkey's manufacturing sector declines 0.3 percent this month


(MENAFN) In July, the capacity utilization rate for Turkey's manufacturing sector saw a slight decrease of 0.3 percentage points, bringing it to 75.9 percent compared to June. This information was derived from a survey conducted by the Turkish Central Bank, released on Thursday. The survey offers a snapshot of how extensively manufacturing capabilities are being employed across the industry.

The survey data revealed that investment goods experienced the highest utilization rate in July, reaching 76 percent. On the other hand, the lowest rates of utilization were recorded in consumer goods and non-durable consumer goods, both at 72.7 percent. These figures provide insight into the varying degrees of activity and resource usage within different segments of the manufacturing sector.

When examined by specific sectors, the manufacture of wood products emerged as having the highest capacity usage, with a notable rate of 83 percent. In stark contrast, the leather products sector reported the lowest capacity utilization at 61.7 percent. These disparities highlight the diverse levels of demand and production intensity across different manufacturing fields.

The capacity utilization rate figures are compiled from responses to a business tendency survey targeting local manufacturing units. For the current month, 1,778 companies participated in the survey. It is important to note that the results reflect the responses from these companies and do not represent the Turkish Central Bank's own views or forecasts.

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