Business confidence, capacity usage edge up in September
ANKARA
Business confidence and the manufacturing sector’s capacity utilization edged up slightly in September, according to separate data released by the Central Bank on Sept. 24.
The seasonally adjusted Real Sector Confidence Index (RKGE) increased by 0.2 points from the previous month, reaching 100.8. Companies’ assessments regarding fixed capital investment expenditures, total orders over the past three months and current total orders contributed positively to the index.
The sub-index for investment expenditures rose 3.8 percent month-on-month, while the indices for past and current orders were up 1.1 percent and 2.1 percent, respectively. In contrast, evaluations concerning current finished goods inventories, production volume over the next three months, export orders for the next three months, overall business outlook, and total employment expectations for the next three months had a negative impact.
The sub-index of general business situation was down 0.7 percent in September compared to the previous month.
The unadjusted RKGE decreased by 0.4 points from the previous month, standing at 100.2, the bank said.
The seasonally adjusted capacity utilization rate for the Turkish manufacturing industry rose to 73.8 percent in September, a separate Central Bank survey showed on Sept. 24. The figure was 0.2 percentage points higher than in August, when it stood at 73.6 percent.
According to the data, the highest utilization in September was 74.9 percent for intermediate goods, up 0.2 percentage points from August.
Meanwhile, the lowest utilization rate was 70.3 percent in durable consumer goods, unchanged from the previous month.
Broken down by sector, the highest capacity usage was in the manufacture of tobacco products at 85.6 percent, while the lowest was in leather products at 63.4 percent. The capacity utilization rate figures are based on responses from a business tendency survey of local manufacturing units.
Meanwhile, the Turkish Statistical Institute (TÜİK) said on Sept. 24 that confidence in the retail sector, which rose 0.8 percent in August, advanced 0.4 percent month-on-month in September to 109.2.
The seasonally adjusted confidence index in the services sector fell 0.1 percent after rising 1.1 percent in August. In the construction sector, confidence surged 3.6 percent in September, reversing the 4 percent decline recorded in August.
