- November 5, 2022
- Posted by: Legend Consultancy
Capacity usage down but business morale improves
The capacity utilization rate (CUR) in the manufacturing sector declined but business morale improved in October, the Central Bank has said.
The CUR eased from 77.4 percent last month to 76.9 percent in October.
In the durable consumer goods, the capacity usage rate fell from 74.9 percent in September to 74 percent, while the non-durable goods sector saw CUR rise from 74.2 percent to 74.9 percent.
Consumer goods producing companies worked at 74.7 percent capacity in October, up from the previous month’s 74.3 percent.
In the food industry, the capacity utilization rate improved from 77.4 percent to 76.7 percent, and in the intermediate goods manufacturing sector, the CUR fell from 77.4 percent to 76.7 percent.
Capacity usage in the capital goods sector also eased from 78.3 percent to 77.4 percent.
The food and drinks sector’s CUR also rose from 73.6 percent in September to 75.2 percent.
Separate data from the Central Bank showed on Oct. 25 that business morale improved in October.
The real sector confidence index rose from 99.9 in September to 100.3.
On a seasonally-adjusted basis, the index climbed from 100.2 to 102 in October.
Any figure above the 100 threshold indicates optimism among businesses.
The sub-indices for orders received in the past three months and current orders rose, but the index measuring participants’ assessment of the general business outlook declined from 84.5 last month to 82.9 in October.
The index for export orders in the next three months also fell.
In related data, the Turkish Statistical Institute (TÜİK) reported that confidence in the services sector advanced 0.9 percent month-on-month in October.
The confidence indices for the retail and construction sectors increased by 3 percent and 2.8 percent from September, respectively.