Turkey: Business confidence drops in October
October 25, 2016
The Real Sector Confidence Index published by the Central Bank decreased from September’s 106.5 to 101.7 in October, the lowest reading in one year. Despite the drop, the index is above the 100-threshold and indicates an optimistic outlook for Turkish business conditions.
October’s result reflected a deterioration in most of the categories that comprise the index. The sub-index representing the general business situation decreased in October to the lowest reading in a year while total employment deteriorated from the previous month’s reading. Conversely, the total amount of orders in the previous three months increased to a three-month high in October.
Author: Dirina Mançellari, Senior Economist