Turkey’s capacity utilization rate in the manufacturing industry fell to 75.3% in May, data from the central bank showed Tuesday.
The rate was down 0.6 percentage points from 75.9% a month earlier, according to data from the Central Bank of the Republic of Turkey (CBRT).
The rate hit a decade low of 61.6% in April of last year amid steps to contain the coronavirus outbreak.
The rate is a measure of how much of the economy’s potential output is being used and is based on the responses of local units to the business tendency survey.
The CBRT said that 1,746 companies responded to the survey this month, while the monthly data did not reflect the bank’s views or predictions.
Among the main industrial groups, the capacity utilization rate was highest in intermediate goods with 79.1%, while the lowest capacity usage was 69% in investment goods.
On the sectoral side, the highest capacity usage was in the manufacturing of wood and wood/cork products – excluding furniture – with 83.6% in the month, while the lowest rate was seen in leather production with 60.3%.