Turkey's CUR in line with expectations in November

Turkey’s CUR in line with expectations in November

Turkey's Statistics Institute (TUIK) disclosed November survey of manufacturing industry monthly tendency results. According to the figures revealed by TUIK, the capacity utilization rate retreated from 82.4 percent in October 2005 to 81.2 percent in November 2005. In November 2004, the capacity utilization rate was 83.5 percent. The public sector capacity utilization rate retreated from 91.4 percent a month ago to 88.1 percent last month. In addition, the private sector capacity utilization rate declined slightly from 80.4 percent in October to 79.3 percent in November. The capacity utilization rate was in line with the market expectations of 81.3 percent, although it showed a downward trend compared to the same period of last year. The lack of domestic demand with 45.4 percent was the most important factor for Turkish industry not working at full capacity in November. The other reasons are as follow: • Inadequate of foreign demand with 21.4 percent • Financial impossibilities with 11.7 percent • Insufficient raw materials in local goods with 3.4 percent • Workers' problems with 1.4 percent • Insufficient raw material in imported goods with 2.5 percent