Turkey’s manufacturing industry operated at 73.5% of production capacity in August 2026, down from a revised 73.9% in July and the lowest level since March. The Central Bank of the Republic of Turkey’s business tendency survey also showed seasonally adjusted utilization falling to 73.7% from 74.1%. Investment goods led the decline, with utilization dropping to 69.7% from 71.2%, pointing to weaker activity in capital-intensive industries and potentially softer investment demand. Food and beverage utilization fell to 71.4% from 72.0%, while intermediate goods remained the strongest-performing category despite easing to 74.7% from 74.9%. Non-durable consumer goods edged down to 72.2% from 72.3%, while overall consumer-goods utilization rose to 71.6% from 71.4%, supported by durable consumer goods, which increased to 68.2% from 67.1%. The data suggests some slack in manufacturing and is consistent with softer demand, high input costs and weaker export orders, although further industrial production and PMI data will be needed to confirm the trend.