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Turkey Business Confidence August 2023

Turkey: Business confidence deteriorates in August

Business confidence fell to 105.0 in August from July’s 106.8. August’s result marked the worst performance since February 2023. Despite the downtick, the index lies above the 100-threshold, indicating optimism among businesses.

August’s decline was driven by lower export orders and softer expectations of output over the next three months. Additionally, firms became more pessimistic regarding the current general business situation. That said, companies were slightly more optimistic regarding fixed investment over the year ahead.

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