Capacity utilisation in Turkey’s manufacturing industry rose to 77.2 percent in November, the highest level since a currency crisis last year, central bank data showed on Monday.
The rate of capacity utilisation increased from 76.4 percent in October, the central bank said in a statement on its website. The biggest advances came in the production of intermediate goods and investment goods.
Turkish manufacturers have curbed price hikes and sought to sell more goods abroad after the currency crisis ravaged consumer demand, sending the economy into a tailspin. The government, which is encouraging companies to borrow after interest rates dropped, says it expects positive annual economic growth in the final quarter of the year and for 2019 as a whole.
Capacity utilisation rose to 76.7 percent in November from 76 percent in October on a seasonally adjusted basis, the central bank said.