Turkey’s CUR in December is 80%
Based on the data released from State Institute of Statistics (SIS), Turkey's capacity utilization rate (CUR) in December is recorded as 80%. This rate is in line with market expectations. Moreover, this rate indicates an increase when compared to 79.6% recorded in November. In December 2002, CUR was 76.5%. The private sector CUR has also increased to 79.6% in December from 75.7% recorded in the previous month. The increase in private sector CUR was expected as the November figures were affected by the Ramadan period and one week religious holiday. Strong exports were also contributed to the increase in the figure. According to Turkish Exporters Assembly figures, the exports reached $4.9 billion in December. Moreover, public sector CUR has declined from 86.8% recorded in November to 80.8% in December. In addition, GDP (Gross Domestic Product) is expected to reach 5% in 2004. The GDP expectation is in line with the high domestic consumption and private investments.