By Muhammed Ali Gurtas

ANKARA

The capacity utilization rate of Turkey’s manufacturing industry rose slightly to 77.9 percent in May, the Central Bank announced on Friday. 

The bank reported that the capacity utilization rate (CUR) recorded an increase this month -- 0.6 percentage point -- compared with 77.3 percent in April. 

The CUR figures are based on the responses given to the Central Bank business tendency survey by local units operating in the manufacturing industry.

According to the Central Bank, nearly 2,150 companies responded to the survey in May, and the monthly data does not reflect the bank’s views or predictions.

In May, among over 30 sectors, manufacturers of wood and of products of wood and cork -- excluding furniture -- recorded the highest CUR -- 87.7 percent. The manufacturers of leather and related products used 61.1 percent of their capacity, which was the lowest level. 

Regarding the main industrial groupings, the highest capacity usage was seen in investment goods -- 80.9 percent -- while the lowest was seen in food and beverages -- 71.9 percent.

The Central Bank figures also showed that capacity usage in consumer goods was 73.9 percent -- durable goods at 72.9 percent and non-durable goods at 74.1 percent -- while the manufacturers of intermediate goods used 80.2 percent of their capacity in May.

In 2017, the average capacity usage in the manufacturing industry was 78.5 percent. Over the past five years, the highest CUR was recorded last November with 79.9 percent, and the lowest was 73.5 percent in February 2013.