Turkey Capacity Utilization Falls To 29-Month Low, Business Confidence Rises

(RTTNews) - Turkey's manufacturing capacity utilization rate decreased in August to the lowest level in nearly two-and-a-half years, while factory confidence improved slightly, figures from the central bank showed on Monday.

The capacity utilization rate dropped to 73.5 percent in August from 74.2 percent in the previous month. Further, a similar rate was last seen in March 2023.

On a seasonally adjusted basis, the capacity utilization rate also declined to 73.6 percent in August from 74.1 percent in the previous month.

Separate data from the central bank showed that the non-adjusted manufacturing confidence index rose to 100.6 in August from 100.2 in July.

The index reflecting general business conditions strengthened to 91.5 from 86.3, while the current order book balance eased to 80.3 from 80.9, and expected employment in the next three months remained steady at 100.2.