Turkish capacity utilization falls 16 pts to 64.7 pct in December .hurriyet2008-detailbox-newslink { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:none; color:#000000;} .hurriyet2008-detailbox-newslink:hover { font-family: Arial, Helvetica, sans-serif; font-size:13px; font-weight:bold; text-decoration:underline; color:#990000;} Turkey's capacity utilization in the manufacturing industry fell sharply by 16 points to 64.7 percent in December 2008, compared to the same month of 2007, the Turkish Statistical Institute (TURKSTAT) announced on Monday. (UPDATED)

The capacity utilization rate in October 2008 was 76.7 percent and 72.9 percent in November 2008, while it was 81.1 percent in the December 2007.

TURKSTAT said lacking demand in domestic market was the main reason for companies not working at full capacity in December together with the poor demand in foreign markets.

Many companies in Turkey have recently either closed or halted production, particularly in the automotive and textile sectors, due to economic problems resulting from a lack of demand stemming from the global financial crisis.

The growth in Turkey's Grand Domestic Product (GDP) growth registered as the lowest of the last six-year with 0.5 percent in the third quarter.

The volume of production fell 12.2 percent month-on-month in December and was expected to rise 1.7 percent in January, the TURKSTAT also said.