Turkey’s manufacturing reaches 9-year high

The capacity utilisation rate (CUR) of Turkish manufacturing rose further to 79% in June, the highest figure recorded since August 2008’s 81.9%, the central bank reports. Furthermore, Turkey’s Manufacturing Purchasing Managers’ Index (PMI) rose from 51.7 in April to 53.5 in May, the highest level recorded since December 2013, while calendar adjusted industrial production growth hit a 20-month high in April and exports surged 16% year-on-year in May. Production from the industrial sector was up 5.3% year-on-year in Q1, with manufacturing output recording a climb of 5.1%.
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