Turkey: Business confidence dips into negative territory
December 25, 2012
The Real Sector Confidence Index published by the Central Bank dropped for an eighth consecutive month in December, falling from 101.0 points in November to 97.9 points, the lowest level recorded since January 2012. As a result, the index now sits below the 100-point threshold that separates optimistic from pessimistic territory for the first time in a year. That said, at the current level, business sentiment is still 0.7 points above the levels observed in the same month the previous year.
The deterioration in business confidence mainly reflected a poor performance in total amount of orders in the past three months as well as in exports orders for the next three months.