Turkey: Business confidence falls in July
Business confidence fell to 106.8 in July from June’s 108.2. As a result, the index remained above the 100-threshold, signaling sustained albeit moderating optimism.
July’s decline was driven by less optimistic views regarding domestic and foreign demand over the next three months. Moreover, firms also became less optimistic about output and employment levels over the same time horizon. That said, firms became slightly less pessimistic about current demand conditions.