Turkey's industrial capacity utilization slips slightly

2015-10-27 04:42:44

(MENAFN- The Journal Of Turkish Weekly) Industrial activity and business confidence were both strong in October according to reports from Turkey’s central bank Monday.

While the capacity utilization rate slipped slightly in Octoberto 75.5 percent from 75.9 percent the previous monthit was still well above the 74.1 percent average rate between 2007 and 2015 according to statistics from the Trading Economics website.

“Strong householdspending is still being fed by industrial production and exports of industrial components to Germanycontinue to use most of Turkey's industrial capacity” Attila Yesilada an economist with the Global Source Partners consultancy in Istanbul said.

Growth in durable goods manufacturing along with food products were among the strongest categories in the capacity utilization report.

The business confidence index recovered sharply to 100.5in October from 99.5 in September. The latest reading was the highest since May when it was 103.8.

“The recovery in Europe is helping to fuel business confidence again as export demand picks up” Yesilada said.

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