Turkey: Business confidence continues to slide
August 27, 2012
The Real Sector Confidence Index published by the Central Bank dropped for a fourth consecutive month, falling from 107.3 points in July to 104.5 points in August, its lowest level in seven months. That said, despite the deterioration, the index remains above the 100-point threshold that separates optimistic from pessimistic territory for a seventh consecutive month. At the current level, business sentiment is 5.3 points below the levels observed in the same month last year. Although the deterioration in business confidence was broad-based, with most of the sub-categories experiencing declines over the previous month, the sub-category regarding the total amount of orders in the past three month recorded the largest loss.