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Turkey Business Confidence April 2020

Turkey: Business confidence falls to over one-decade low in April

Confidence among Turkish firms evaporated in April, with the Real Sector Confidence Index falling from 99.7 in March to 66.8. This marked the lowest print since February 2009, with the indicator heavily weighed on by the Covid-19 pandemic.

The decline was driven by worsening views on current total orders; and export orders, output, and employment in the next three months. Moreover, views on order books over the past three months also worsened while firms turned more downbeat regarding fixed investment expenditure.

Meanwhile, producer price inflation expectations edged up from 13.2% in March to 13.5% in April, a four-month high.

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