Turkey Business Confidence November 2022

Turkey

Turkey: Business confidence deteriorates in November

November 24, 2022

Business confidence fell to 97.9 in November from October's 100.3. November's result marked the lowest reading since June 2020 and pushed the index below the 100-threshold, pointing to worsening sentiment among businesses.

The downtick was driven by more pessimistic views regarding output in the next three months and order books in the past three months. Moreover, firms were more gloomy about fixed investment expenditure. On the other hand, attitudes towards current orders and the general business situation improved, albeit they remained downbeat.

FocusEconomics Consensus Forecast participants see fixed investment expanding 1.4% in 2023, which is up 0.2 percentage points from last month’s forecast, and growing 3.2% in 2024.


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Turkey Business Confidence November 2022

Note: Real Sector Confidence Index. Values above 100 indicate an optimistic outlook while values below 100 indicate a pessimistic outlook
Source: Central Bank of the Republic of Turkey (CBRT)


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