Turkey: Business confidence dips in May
May 23, 2017
The Real Sector Confidence Index published by the Central Bank dipped to 109.2 in May from April’s 111.2. However, as the index remains above the 100-point threshold, this indicates continued optimism among firms.
May’s less favorable result was driven by a deterioration in firms’ views regarding future domestic- and export-oriented new orders, as well as worse expectations on production. Nonetheless, companies’ perspectives on employment, unit costs and selling prices improved, signifying that the decline from the previous month was not broad-based.