Turkey: Business confidence deteriorates slightly in October
October 27, 2014
The Real Sector Confidence Index published by the Central Bank fell from 107.6 in September to 106.9 in October. Despite the monthly decline in the index, business confidence remains well above the 100-point threshold, which indicates an optimistic outlook for business conditions.
October’s result showed that businesses were particularly more pessimistic regarding export orders and the expected volume of output for the coming three months. Conversely, firms were significantly more optimistic regarding the amount of orders in the past three months. In addition, the general business conditions index declined further in October and now sits at its lowest level in seven months.