Financial News: Turkish Manufacturing Capacity Utilization Falls To 29-Mon

Turkish Manufacturing Capacity Utilization Falls To 29-Month Low, Business Confidence Improves

02/22/2023 - 09:15:00 (RTTNews)

(RTTNews) - Turkey's manufacturing capacity utilization rate declined marginally in February to the lowest level in nearly two-and-a-half years, while the factory confidence strengthened amid hopes of an increase in domestic orders and production in the near future, figures from the central bank showed on Wednesday.

The capacity utilization rate edged down to 75.2 percent in February from 75.3 percent in January.

Further, this was the lowest ratio since September 2020, when it was 74.6 percent.

On a seasonally adjusted basis, the capacity utilization rate declined to 75.7 percent in February from 75.8 percent in the previous month.

Separate data from the central bank showed that the non-adjusted manufacturing confidence index rose to a seven-month high of 102.4 in February from 101.7 in January.

Domestic orders and production are expected to increase over the next three months. An increase in employment is anticipated, and a slowdown is expected in producer price inflation in the near future.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (01 hr(s), 51 min(s), 02 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (03 hr(s), 18 min(s), 02 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (03 hr(s), 58 min(s), 02 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»

China Retains Benchmark Lending Rates As Expected (04 hr(s), 17 min(s), 02 sec(s) ago)
(RTTNews) - China retained its benchmark lending rates for the seventh straight month on Monday af ...Full Story»

China Loan Prime Rate Due On Monday (56 min(s), 58 sec(s) ago)
(RTTNews) - The People's Bank of China will announce its latest loan prime rate numbers, highl ...Full Story»

U.S. Consumer Sentiment Unexpectedly Drops In March, Inflation Expectations Dip (37 min(s), 58 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. fell for the first time in four months in March, accord ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged At 7.50% (31 min(s), 58 sec(s) ago)
(RTTNews) - Russia's central bank decided to keep its key interest rate unchanged for the four ...Full Story»

U.S. Leading Economic Index Falls For Eleventh Straight Month In February (23 min(s), 58 sec(s) ago)
(RTTNews) - The Conference Board released a report on Friday showing its reading on leading U.S. e ...Full Story»