Turkey's CUR maintains upward trend

Turkey’s CUR maintains upward trend

Turkey's capacity utilization rate (CUR) in manufacturing industry renewed the record in June that it broke in May. According to data released by State Institute of Statistics (DIE), CUR surged to 84.5% in June from 84.3% recorded in the previous month. The higher than expected increase in the CUR grew out from the robust public sector CUR that rose to 86.4% from the 85.4% in the previous month. The private sector CUR declined to 83.1% from 83.6% recorded in May. CUR in the private sector vehicle output reached 83.9%, in the machinery and equipment to 89.3% and in the furniture output to 85.2%. However, a slowdown is seen in sectors such as chemicals and iron and steel. Based on the CUR figure, a strong double digit increase is expected in industrial output in June.