Utilization, more jobs signal growth

ANKARA - Anatolia News Agency

Turkey’ capacity utilization in manufacturing is still high, a recent study puts. AA photo

An increase in both employment and the capacity utilization in manufacturing in Turkey is a sign for economic growth in the near future, according to a study by the Social Policy and Research Center of the TOBB Economy and Technology University.

The report prepared by İdil Bilgiç evaluates figures for March 2012.

The capacity utilization in manufacturing stood at 73.1 in March, which is only 0.1 point below the same month a year earlier, and 0.2 points above February 2012.

The utilization, which is also above a month earlier, shows that the recovery in industries, which started in the second half of 2009, is still continuing, the report concluded.

Manufacturing on investment goods jumped by 2.9 percent in March from a month earlier, as manufacturing of consumption goods fell by 0.4 percent. The drop rate for intermediate foods stood at 1.2 percent.

These figures are also a clue for the continuation of growth. The utilization in manufacturing industries and investment goods will help support industrial growth, the report said.

Meanwhile, Turkey’s March unemployment rate dropped 0.9 percent year-over-year to 9.9 percent from 10.8 percent, according to data released June 15 by the Turkish Statistical Institute (TÜİK).

The Ankara-based TOBB University is an initiative by The Turkish Union of Chambers and Commodities Exchanges (TOBB).