Capacity utilization rate in Turkey in August 2004
According to Turkey's State Institute of Statistics, Turkey's capacity utilization rate (CUR) in the manufacturing industry fell to 81.7% in August 2004, down from 84.1% in July, owing to the annual shutdown of automobile factories for maintenance in the month of August. Therefore, CUR for August did not reach the average market expectation of between 82.3 - 82.5%. While the CUR in the public sector was strong in August at 91.3%, up from 89.7% in the previous month, the private sector CUR dropped to 75.6% from 80.8% in the previous month. According to market sources, the reason for the decline in the private sector CUR was the summer recess in many large manufacturing plants. There have been many private sector slowdowns in CUR, particularly in the automotive and machinery sectors, which made a large contribution to the overall decline in the private sector CUR. CUR in the automotive industry declined from 61% from 83.7% in July '04.