2023.01.2511:25:00UTC+00Turkish Manufacturing Capacity Utilization At 20-Month Low, Business Confidence Improves

Turkey's manufacturing capacity utilization rate declined at the start of the year to the lowest level in twenty months, while factory confidence strengthened amid hopes of an increase in domestic orders, figures from the central bank showed on Wednesday.

The capacity utilization rate fell to 75.3 percent in January from 76.5 percent in December.

Further, this was the lowest ratio since May 2021, when it was also 75.3 percent.

On a seasonally adjusted basis, the capacity utilization rate declined to 75.8 percent in January from 76.4 percent in the previous month.

Separate data from the central bank showed that the non-adjusted manufacturing confidence index rose to a five-month high of 101.7 in January from 97.8 in December.

Domestic orders were expected to increase over the next three months, while export bookings and employment were forecast to decline in the near future.

The seasonally adjusted manufacturing confidence index improved to 103.4 in January from 101.6 in the previous month.

  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Can't speak right now?
Ask your question in the chat.
Widget callback