Turkey’s April CUR below expectations
As per the data released by State Institute of Statistics (DIE),
Turkey's capacity utilization rate (CUR) decreased to 76.4% in April from 82.3% in the previous month; however April CUR increased when compared with 75.9% in April 2003.
The private sector CUR maintained its level of above 80% in April. The public sector CUR is recorded as 68.7% in this period.
When compared with last year, CUR indicated a decline in sectors such as textile and clothing which are working with low value added. The revival in domestic market demand and strong exports performance allowed CUR to show high movement in private sector.
The decline in CUR could be attributed to the
production cut in certain refineries of TUPRAS because of maintenance.
In medium and short term, growth process is expected to continue in a vigorous way. However, the increase in interest rates and the depreciation of TL may impact domestic demand and investment expenditures negatively.