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Turkey Business Confidence December 2021

Turkey: Business confidence eases to over one-year low in December

Business confidence cooled to 106.1 in December from 108.4 in November. December’s result marked the lowest reading since November 2020; however, the index remained above the neutral 100-threshold that separates optimism from pessimism.

At the close of the fourth quarter, confidence eased on the back of less upbeat views on the number of orders in the past three months and more downbeat views on order books and stocks of finished goods at present. Further, attitudes towards the general business situation became notably more pessimistic. On the other hand, views regarding output, employment, and export order expectations became rosier.

Meanwhile, producer price inflation expectations continued to rise, surging to 35.3% in December from November’s 30.1%. December’s expectations marked the highest level in the series history, which began in 2007, and were likely influenced by ongoing currency volatility and lingering supply constraints.

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